Bitcoin price decreased for the first time in eight weeks, signaling market moves to reduce leverage. $345 million worth of long and short positions were liquidated, primarily affecting long positions.

Strong uptrend price movements led to $110 million in short position liquidation, reducing market leverage and contributing to a more sustainable price action and market environment, as traders capitalize on these moments.

Bitcoin’s dominance dropped from 53.46% to 53.11% in a week, indicating the resilience of altcoins compared to Bitcoin, indicating active investor engagement in short-term profitability.