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514% Liquidation Imbalance Stuns Dogecoin Long Traders
NFT Gaming

514% Liquidation Imbalance Stuns Dogecoin Long Traders

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Dogecoin (DOGE) long position traders have again been stunned as a 514% liquidation hit the meme coin’s market space. Notably, after DOGE flashed rebound signals, some traders bet on sustained momentum, but volatility turned the tide.

Dogecoin longs take hit as $6.33 million wiped out

According to CoinGlass data, in the last 24 hours, Dogecoin’s total liquidation stood at $7.36 million. Out of this amount, long position traders saw $6.33 million wiped out as price action shifted, resulting in losses. These investors were betting on a sustained recovery as prices lifted, but the volatility of the crypto space prevented it from materializing.

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Short position traders recorded about one-sixth of the losses suffered by those betting long on DOGE. A total of $1.03 million was liquidated from short position traders, signaling less exposure on the market.

As of press time, Dogecoin remains in the red zone, declining by 2.74% to trade at $0.1711 in the last 24 hours, according to CoinMarketCap.

Nonetheless, trading volume has witnessed an uptick of 28.23% to $1.25 billion within the same time frame. This suggests that investors use the price dip to accumulate more of the meme coin at a reduced rate.

It remains unclear if DOGE whales are behind the current spike in volume. However, investors hope that the sustained increase could trigger a reversal in the price outlook. In the past week, Dogecoin whales were active, transacting over $23 billion worth of DOGE within 24 hours.

DOGE loses market cap ground to Tron (TRX)

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There are lingering concerns in the Dogecoin community as the meme coin faces pressure on the broader crypto market. As U.Today predicted, Dogecoin recently lost the eighth position ranking per market capitalization to Tron (TRX).

Dogecoin was ahead of Tron by about $580 million, but slow price growth caused it to lose against Tron. The only consolation amid the current market setup is that Bitcoin is also experiencing a price decline. Dogecoin investors can only hope that if the leading digital currency rebounds, DOGE might mirror it.



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GameFi Guides

Traders Bet On Price Rebound

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Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Data shows the Bitcoin Options 25 Delta Skew has seen a bullish flip, a sign that the traders may be expecting a price rebound.

Bitcoin Options 25 Delta Skew Suggests Traders Are Positioning For Upside

As pointed out by the analytics firm Glassnode in a new post on X, the Options 25 Delta Skew has recently observed a reversal to positive levels for Bitcoin. The “25 Delta Skew” is an indicator related to the BTC Options market that basically tells us about the sentiment present among the traders.

The metric does so by comparing the Implied Volatility (IV) of bearish positions (puts) and bullish positions (calls). Here, the IV is a measure of how volatile the traders expect the asset to be in the future.

The 25 Delta Skew specifically compares this expectation for the puts and calls with a delta of 25. That is, the Options contracts whose price changes by $0.25 for every $1 change in the BTC spot value.

Naturally, for puts, the change is in the opposite direction to the price, as these positions are betting on a bearish outcome. This means their price rises by $0.25 whenever BTC goes down $1. On the other hand, the $0.25 increase/decrease happens alongside a $1 price increase/decrease in the asset’s spot value for the calls.

Now, here is a chart that shows the trend in the Bitcoin Options 25 Skew Delta for a few different expiration periods over the last couple of weeks:

The value of the metric appears to have gone up on all of these expiration timeframes in recent days | Source: Glassnode on X

As displayed in the above graph, the Bitcoin Options 25 Delta Skew was below the 0% mark for all of these expiries earlier in the month. During the past week, however, a flip appears to have occurred in the market, with the metric climbing to a positive value for all of them.

The trend is especially prominent in short-dated contracts. The positions expiring in one week have seen the indicator go from -2.6% to +10.1%. Similarly, those expiring in one month have observed a reversal from -2.2% to +4.9%.

Based on the trend, the analytics firm notes, “traders are aggressively positioning for near-term upside or volatility.” This bullish flip in the Options market has interestingly come while Bitcoin has faced some bearish price action. It now remains to be seen whether the bullish confidence from the market will pay off or not.

In some other news, Strategy has completed yet another Bitcoin purchase, as Chairman Michael Saylor has shared in an X post. The acquisition, involving 10,100 tokens, has cost the company around $1.05 billion. The firm now holds a total of 592,100 BTC, with a cost basis of $41.84 billion.

 

BTC Price

Bitcoin has made a slight recovery during the past day as its price has returned to $106,600.

The trend in the BTC price over the past five days | Source: BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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BTC Clings to $105K as Traders Brace for Fallout From the Worsening Middle East Crisis

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Bitcoin hovered around $105,100 on June 14, down 0.22% over the past 24 hours as traders digested geopolitical tension. Price action remained relatively tight, with BTC moving within a $2,090 range from $104,220 to $106,135. The largest moves occurred overnight in Asia trading, where Bitcoin briefly dipped below $104,200 before rebounding on high volume.

Much of the recent volatility has been driven by developments in the Middle East. The Israel-Iran war, which some analysts fear could spread to other parts of the Middle East, combined with trade tensions between the U.S. and some of its key trading partners, has unsettled risk markets. More than $1.1 billion in crypto liquidations were recorded during the initial wave of conflict headlines, though bitcoin has shown resilience in the aftermath.

Traders appear to be leaning bullish in the medium term, as BTC continues to hold a pattern of higher lows despite intraday wobbles. Profit-taking near $106,000 capped upside momentum, but support near $105,000 continues to draw buyers on dips. Market participants are watching this range closely, particularly as safe-haven demand and risk sentiment remain intertwined.

While short-term headlines continue to drive volatility, the broader structure suggests BTC is consolidating rather than reversing. If support around $104,950 holds, Bitcoin may attempt another push above $106,200.

Technical Analysis Highlights

  • BTC traded in a $2,090 range from $104,182 to $106,272 over the past 24 hours.
  • A key bounce occurred at $104,182 with 15,342 BTC traded during the recovery.
  • Resistance formed near $106,200 amid consistent profit-taking.
  • A rising trendline of higher lows remains intact.
  • Psychological support at $105,000 is holding for now.
  • Recent price range: $104,875 to $105,202 in the last hour.
  • A sharp dip below $105K at 07:19 reversed quickly, with $105,200 acting as near-term resistance.
  • Final 15-minute candles showed minor exhaustion, but volume patterns suggest accumulation on dips.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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