Bitcoin (BTC) lost $517 in the hour ending at 4:51 p.m. ET Sunday, Nov. 8 (21:51 UTC), while a tally across three exchanges showed nearly all reported liquidations came from long positions.
Bitcoin moved from $75,786 to $75,269 during the period, a 0.68% decline. Long liquidations totaled $10.55 million of the $10.56 million recorded across Binance, Bybit and OKX. Short positions made up the remaining $10,000.
Long positions gain when an asset rises, while short positions can benefit from a decline. The data showed the price drop alongside a much larger liquidation amount on the long side. The tally covers Binance, Bybit and OKX only, not the entire market.
The pattern differed from Oct. 20, when Bitcoin rose 1.60% in an hourly period and short liquidations totaled $8.47 million, compared with $120,000 in long liquidations, according to EconoTimes' earlier account.