Bitfinex Alpha #58 | Bitcoin’s Largest Long Liquidation of the Year

Recent weeks have witnessed escalating concerns following the lawsuits issued against leading #cryptocurrencyexchanges #Binance and #Coinbase, which marked an upward tilt in #historicalvolatility (HV), often seen as an indicator of sudden short-term price movements. As the news of the lawsuits became public, a marked jump was observed in the crypto market's historical volatility. On June 10th, the BTC price fell to the mid 25,000s resulting in the largest #liquidation of #longpositions in #USD terms so far this year, amounting to a total of $348 million. The news flow clearly disrupted the market, but an analysis of several crucial crypto market metrics suggests a state of relative stability, as traders have largely maintained their positions despite the negative news flow. Read [Bitfinex Alpha Issue #58](https://blog.bitfinex.com/wp-content/uploads/2023/06/Bitfinex-Alpha-58.pdf) to see what the analysis of the movement of historical volatility in relation to #impliedvolatility indicates, and [subscribe to the Bitfinex Alpha newsletter](https://blog.bitfinex.com/bitfinexalpha/) to get a portion of the market insights every week. #BitfinexAlpha #cryptomarketanalysis #cryptomarketresearch #Bitcoinmarketanalysis