Bitcoin has regained its footing near the $98,000 mark after facing significant market volatility. Recent declines caused long liquidations to soar, reaching an 11-day high of over $344 million.
In contrast, shorts suffered losses estimated at approximately $136 million. This shift in financial dynamics underscores the ongoing fluctuations in the cryptocurrency market.
Despite these liquidations nearing a combined total of $500 million, Bitcoin's price stability suggests a potential recovery phase is under way.