Large-scale liquidations strain market liquidity as forced selling intensifies price declines. This can trigger a vicious cycle of more liquidations, reduced order book depth, and increased volatility, making recovery harder.
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When Bitcoin fell below $115,000 with a 24 - hour decline of nearly 3%, the change in the long - short position ratio needs to be further observed. If the short - term short - position ratio continues to increase, it indicates that the bearish force may continue to strengthen. However, if the long - position ratio remains stable or rebounds, it may resist further decline of the price.
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Whether institutional investors' large - scale entry will trigger a herd effect: Harvard Endowment's large - scale purchase of Bitcoin ETF may attract other institutional investors to follow suit, triggering a herd effect. Because institutional investors' actions often have a η€Ίθ effect, which can affect market sentiment and drive the price trend.
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