Bitcoin fails to break record high as 980.3 billion won in futures market liquidation

BTC Futures Market Long Betting Liquidation Reaches 685.7 Billion Won on the 13th
BTC Fails to Break All-Time High Despite Sharp Rise, Stopping Short of $3,000
Experts Say "BTC Needs Additional Time to Break All-Time High"

Bitcoin (BTC), which was rising sharply due to the tariff negotiations between the US and China, failed to break its all-time high due to massive liquidation in the futures market.

According to Coinglass, an on-chain analysis platform, on the 13th, the total liquidation in the Bitcoin futures market reached approximately $700 million (about 980.3 billion won) in a single day.

Previously, Bitcoin rose sharply by about 3% on the 12th due to tariff negotiations between the US and China, touching $105,000. The market had expectations that Bitcoin would break its all-time high. Bitcoin's previous high was $108,786 recorded on January 20th.

A large part of the Bitcoin futures market liquidation was long position liquidation.

According to Coinglass data, as of the 13th, long position liquidation was about $484.85 million (about 685.7 billion won), and short position liquidation was about $214.86 million (about 303.9 billion won). Many futures investors bet on Bitcoin's further rise following its sharp increase, but these bets failed, leading to the failure to break the all-time high.

Experts believe it may take time to break Bitcoin's all-time high.

Cryptocurrency media Coindesk stated, "Bitcoin had risen more than 40% since its April low until this morning, outperforming the US stock market, so investors 'bought on rumors and sold on news'" and predicted that "breaking the all-time high requires additional buying pressure from further positive developments."

Reporter Seung-won Kwon ksw@blockstreet.co.kr