@jessmith
Bitcoin has bounced back to $71,000 after short-term holders offloaded more than 94,000 BTC on exchanges at a loss on February 7.
The sell-off capped a turbulent week that saw a single-day plunge of 14% on February 5 - the steepest drop since the FTX collapse in 2022.
Total futures liquidations exceeded $16 billion over ten days of correction, with long positions making up roughly 80-85% of the losses.
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