- In the last 24 hours, BTC long liquidations exceeded short liquidations.
- On the spot market, the bulls remain in control.
Bitcoin [BTC] long liquidations have exceeded short liquidations in the last 24 hours, according to CoinGlass. The data provider said long liquidations totaled $20 million, while the value of short liquidations was below $10 million.

Source: Coinglass
Read Bitcoin’s [BTC] Price Prediction 2023-24
Generally, long liquidations tend to be more than short liquidations when an asset’s price declines and futures market participants are forced to close their long positions.
According to data from CoinMarketCap, the leading coin’s price has slipped by almost 1% in the last 24 hours, while trading volume has dropped by 18% during the same period. This suggested that while the coin’s price remains at a multi-month high, profit-taking activity was gaining momentum.
BTC printing profit for most holders
Data sourced from Santiment put BTC’s market value to realized value ratio (MVRV) at 68.96% at press time, its highest level since March 2022.
An asset’s MVRV ratio tracks the ratio between the asset’s current market price and the average price of every coin or token of that asset acquired. A positive MVRV ratio above one signals that an asset is overvalued.
Conversely, a negative MVRV value shows that the asset in question is undervalued, and if holders sold at the asset’s current price, they would realize losses.
Sitting above 65%, BTC’s MVRV ratio suggested that if all holders sold at the coin’s current market value of $34,064, they would, on average, realize around 70% profit.
Likewise, the coin’s daily ratio of on-chain transaction volume in profit to loss touched its second-highest level this year on 23 October. This went as high as 3.56%, meaning that for every BTC transaction that ended in a loss, 3.56 transactions returned a profit.

Source: Santiment
Although profit-taking activity has begun to gain traction, the spot market remains significantly marked by bullish sentiments. According to Directional Movement Index (DMI), BTC bulls were in control of the daily market at press time.
Is your portfolio green? Check the BTC Profit Calculator
This indicator is used to measure the strength and direction of a trend in a market. With the positive directional indicator (green) at 41.33 resting solidly above the negative directional indicator (red) at 5.97, the buyers in the market have more strength than the sellers.
At 50.43 and in an uptrend, the coin’s Average Directional Index showed that the bears will find it challenging to regain market control. An ADX value above 25 is usually interpreted as an indication of a strengthening trend.

Source: BTC/USD, TradingView
- In the last 24 hours, BTC long liquidations exceeded short liquidations.
- On the spot market, the bulls remain in control.
Bitcoin [BTC] long liquidations have exceeded short liquidations in the last 24 hours, according to CoinGlass. The data provider said long liquidations totaled $20 million, while the value of short liquidations was below $10 million.

Source: Coinglass
Read Bitcoin’s [BTC] Price Prediction 2023-24
Generally, long liquidations tend to be more than short liquidations when an asset’s price declines and futures market participants are forced to close their long positions.
According to data from CoinMarketCap, the leading coin’s price has slipped by almost 1% in the last 24 hours, while trading volume has dropped by 18% during the same period. This suggested that while the coin’s price remains at a multi-month high, profit-taking activity was gaining momentum.
BTC printing profit for most holders
Data sourced from Santiment put BTC’s market value to realized value ratio (MVRV) at 68.96% at press time, its highest level since March 2022.
An asset’s MVRV ratio tracks the ratio between the asset’s current market price and the average price of every coin or token of that asset acquired. A positive MVRV ratio above one signals that an asset is overvalued.
Conversely, a negative MVRV value shows that the asset in question is undervalued, and if holders sold at the asset’s current price, they would realize losses.
Sitting above 65%, BTC’s MVRV ratio suggested that if all holders sold at the coin’s current market value of $34,064, they would, on average, realize around 70% profit.
Likewise, the coin’s daily ratio of on-chain transaction volume in profit to loss touched its second-highest level this year on 23 October. This went as high as 3.56%, meaning that for every BTC transaction that ended in a loss, 3.56 transactions returned a profit.

Source: Santiment
Although profit-taking activity has begun to gain traction, the spot market remains significantly marked by bullish sentiments. According to Directional Movement Index (DMI), BTC bulls were in control of the daily market at press time.
Is your portfolio green? Check the BTC Profit Calculator
This indicator is used to measure the strength and direction of a trend in a market. With the positive directional indicator (green) at 41.33 resting solidly above the negative directional indicator (red) at 5.97, the buyers in the market have more strength than the sellers.
At 50.43 and in an uptrend, the coin’s Average Directional Index showed that the bears will find it challenging to regain market control. An ADX value above 25 is usually interpreted as an indication of a strengthening trend.

Source: BTC/USD, TradingView
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