According to Miles Deutscher, Bitcoin aggregated liquidations have reached their highest level in over two years, with over $320 million liquidated on perpetual futures exchanges, marking the most significant level of liquidation since August 2023. This development indicates a tumultuous period for Bitcoin traders as significant positions were forcefully closed.

According to @CryptoMichNL, Bitcoin is becoming the most oversold it has been in a year due to the recent Mt. Gox news. The last two instances of such overselling were during the FTX crash and the correction in August 2023. This suggests that Bitcoin might be nearing a significant price movement.