<a href="https://www.newsbtc.com/analysis/btc/bitcoin-price-consolidates-45k/">Bitcoin has seen a pullback</a> but not to the extent that bears have been expecting. Nevertheless, as a result of this, a lot of traders have incurred massive losses due to Bitcoin staging another unexpected recovery. The loss volumes have quickly risen to $190 million in one day as uncertainty remains the order of the day. 
<h2 class="p2" id="crypto-liquidations-reach-190-million">Crypto Liquidations Reach $190 Million</h2> 
According to <a href="https://www.coinglass.com/LiquidationData" rel="nofollow">data</a> from Coinglass, the 24-hour <a href="https://www.newsbtc.com/crypto/crypto-liquidations-cross-300-million/">crypto liquidation volumes</a> quickly rose above $190 million as Bitcoin completed a shakeout. This began with the price pullback to the $43,600 territory. And then a rapid rise back toward $44,000 completed the move. 
Following this, traders on both sides quickly found themselves holding loss positions, and the liquidations pilled up. In total, over 81,000 traders were caught in the red, leading to more than $190 million in losses. Interestingly, the majority of these were from long trades who were betting on the price to continue to rise. 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-564349 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=460&amp;resize=460%2C272" alt="Bitcoin crypto liquidation" width="460" height="272" srcset="https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=3034 3034w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=460&amp;resize=460%2C272 460w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/12/Screenshot-2023-12-07-at-10.53.47.png?w=1140 1140w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
Coinglass puts 73.74% of the total liquidations in the past day to be from long traders, meaning that around 45,000 traders were long this time around. The single largest liquidation event was recorded on the OKX crypto exchange across the ETH-USDT-SWAP pair which was valued at $2.12 million at the time of the liquidation. 
There was also a new entrant into the top 3 in terms of liquidation volumes. Naturally, Bitcoin and <a href="https://www.newsbtc.com/ethereum-news/ethereum-price-2023-breakthrough-surpassing-bitcoin-altcoin-surge-next/">Ethereum</a> led the pack with liquidation volumes of $47.12 million and $29.16 million. However, ORDI came in third position with $21.64 million in liquidations in 24 hours. 
<h2 class="p2" id="long-traders-in-trouble-as-bitcoin-tanks">Long Traders In Trouble As Bitcoin Tanks</h2> 
Long traders have continued to suffer the brunt of the liquidations in the last day, and the tides are still yet to turn against the bears. As Bitcoin’s price has briefly plunged below $43,000 and recovered back up toward $43,400 once more, the <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-liquidations-top-500-million/">long liquidations</a> are still piling up. 
At the time of this writing, short liquidations made up 91.05% of the approximately $47.83 million in liquidations that have been recorded in the last four hours. This 4-hour liquidation trend is also being led by the same top three including Bitcoin, Ethereum, and <a href="https://www.newsbtc.com/news/ordi-rockets-to-unprecedented-peaks-alongside-bitcoins-42000-breakthrough/">ORDI</a>, all of which have seen a lot of volatility in the last week. If Bitcoin’s recovery continues to show high volatility, these liquidation volumes will continue to rise. 
The majority of the liquidations have taken place on both the <a href="https://www.newsbtc.com/altcoin/crypto-top-8-altcoins-binance/">Binance</a> and <a href="https://www.newsbtc.com/okb/okx-wallet-introduces-staking-function-for-bitcoin-and-brc-20-tokens/">OKX exchanges</a> with $82.56 million and $60.51 million, respectively. ByBit exchange snags third position with $27.05 million in liquidations in the last day. 
Bitcoin is currently struggling to maintain support above $43,000, which explains why there has been an uptick in the <a href="https://www.newsbtc.com/news/ethereum/ethereum-plunge-liquidation/">liquidation</a> trend in the last few hours. However, bulls are still ahead and continue to dominate as sentiment remains firmly in greed. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/h9TsknCM/" alt="Bitcoin price chart from Tradingview.com" width="2650" height="1530">

Bitcoin Shakeout Drives $190 Million In Losses For Over 81,000 Traders

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