Bitcoin experienced significant liquidations as it fell below the $111,000 mark, resulting in over $185 million in long positions being liquidated across two waves.
Short-term traders faced consequences of aggressive risk-taking, while long-term holders capitalized on the volatility, with LTH realized cap surpassing $28 billion, the highest since April.
Amidst the chaos, long-term investors strategically accumulated Bitcoin, utilizing price dips as entry points and reinforcing their positions during selling phases.
As smart money moves in with the flushing out of overleveraged positions, the confidence of long-term Bitcoin holders in its value proposition contrasts with the panic-driven actions of short-term traders, potentially setting the stage for Bitcoin's next significant price movement.