Bitcoin Price Rally Collapse Wipes Out $295M in Long Positions

Bitcoin's recent rally collapsed, triggering roughly $295 million in long-position liquidations across exchanges. The wipeout was concentrated among highly leveraged longs, amplifying selling pressure and cascading stop-losses that accelerated the decline. This forced deleveraging raises near-term volatility and downside risk while potentially removing weak hands, setting the stage for a more stable price if demand holds.