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##**Bitcoin Long Liquidation Triggers Increase in Deposits at Cryptocurrency Exchange**

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According to reports, as BTC fell below the $28000 level, market selling pressure increased. After the recent Bitcoin long liquidation event, the exchange once again witnessed the

##**Bitcoin Long Liquidation Triggers Increase in Deposits at Cryptocurrency Exchange**

According to reports, as BTC fell below the $28000 level, market selling pressure increased. After the recent Bitcoin long liquidation event, the exchange once again witnessed the rise of Bitcoin deposits. According to Glassnode data, approximately 20000 BTCs have been seen returning to the exchange in the past two weeks. （cryptoslate）

Data: Approximately 20000 BTCs have returned to the exchange in the past two weeks

Bitcoin has been one of the most talked-about topics in recent years, with its price surging to sky-high levels in 2021, before tumbling down partially. As per recent reports, the cryptocurrency plunged below the $28000 mark, and the market saw a surge in selling pressure. Furthermore, after the Bitcoin long liquidation event, the exchange witnessed a comeback of Bitcoin deposits. In the last two weeks, approximately 20000 BTCs have been seen returning to the exchange, according to Glassnode data. This article will discuss Bitcoin, its recent long liquidation, and the resulting increase in deposits at cryptocurrency exchanges.
###**I. Understanding BTC and its Fluctuating Price**
Bitcoin, the world’s first and most famous cryptocurrency, is a decentralized digital currency that operates without a central bank or single administrator. The digital currency came into existence in 2009, and since then, its price has fluctuated randomly. In 2020, Bitcoin was valued at a mere $4,000, but its value skyrocketed to an all-time high of $64,000 in April 2021. However, the value has fluctuated since then, with the price falling below $28,000 in July 2021.
###**II. The Bitcoin Long Liquidation Event**
The cryptocurrency market’s latest buzz is the Bitcoin Long Liquidation event that took place in July. The market saw about $300 billion in market value wiped out during the liquidation. Long liquidation occurs when traders are forced to sell their long position because they lack the necessary funds to keep their margin position open. When traders begin to sell to cover their losses, the price of Bitcoin plummets, triggering a chain reaction of sell-offs.
###**III. The Rise of Bitcoin Deposits After the Long Liquidation**
After the recent long liquidation event, Bitcoin saw a positive uptick in its deposits at cryptocurrency exchanges. According to Glassnode data, the market saw the return of approximately 20000 BTCs to the exchange over the last two weeks. The increase in deposits could be due to traders turning their positions from short to long, betting that the market will recover, or accumulation by Bitcoin hodlers (people who hold their Bitcoin over a long period).
###**IV. Conclusion**
Recent reports indicate that as Bitcoin fell below the $28000 mark, the market witnessed a surge in selling pressure. However, after the long liquidation, the market saw the return of approximately 20000 BTCs to the exchange, signaling a positive uptick in deposits. As cryptocurrency continues to mature, the rise and fall of its prices will depend on various factors like technological advancements or government regulations. However, the market seems to have stabilized to some degree, with an increase in Bitcoin deposits at cryptocurrency exchanges.
###**V. FAQs**
1. What is Bitcoin Long Liquidation, and how does it affect Bitcoin’s price?
The Bitcoin Long Liquidation event occurs when traders are forced to sell their long position as they lack the necessary funds to keep their margin position open, leading to a chain reaction of sell-offs that causes the price of Bitcoin to plummet.
2. What is Glassnode data, and how is it significant?
Glassnode is a blockchain analytics company that provides insights into the Bitcoin network’s activity, including transaction volume and on-chain metrics. It is significant as it helps track and analyze the behavior of traders and movements of Bitcoin.
3. What is Bitcoin hodling?
Bitcoin hodling refers to the act of holding onto Bitcoin over a long period, often in response to market volatility, with the intention of reaping the rewards when the price eventually rises.
###**VI. Keywords**
Bitcoin, long liquidation event, cryptocurrency exchange, Glassnode data, price fluctuation, market selling pressure, Bitcoin deposits, hodlers.

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