Bitcoin (BTC) price entered into a defined recovery mode as the world’s leading cryptocurrency recorded liquidation worth $209 million within the last 24 hours. Bitcoin Liquidation Data According to CoinGlass data , the majority of Bitcoin price liquidation was from the short position, around $105 million, while the long position accounted for the rest. In the short term, repurchasing their positions would result in a higher price increase. The wipeout of short position came as Bitcoin plummeted from its all-time high of $73,750. Additionally, Coinbase Pro has lost nearly 58,000 BTC over the last 30 days. The Bitcoin drain resulted in a notable rebound in the cryptocurrency’s price recently, as scarcity increased due to the supply shock. As a result, the BTC price hovered around $67,000, having recovered from a low of $60,000. However, as of the time of writing, Bitcoin’s market price has increased by 5.5% to trade at $70,060. Meanwhile, Bitcoin’s drain from exchanges conti