Timeline
- 7.5
Crypto longs lose $404 million in four hours as bitcoin briefly slips below $80,000
Bitcoin briefly traded below $80,000, triggering $404 million in liquidations of crypto long positions within a four-hour window, according to The Block. The move wiped out leveraged bullish bets as the price dipped under the $80,000 level before recovering. The scale of the four-hour liquidation total indicates that a large volume of leveraged long positions had been built up near the $80,000 level, and their forced closure amplified the downward move. The liquidation figure covers long positions only, over a four-hour window, and the sub-$80,000 break is described as brief. No exchange failure, insolvency or protocol-level disruption was reported alongside the deleveraging.
- 7.5
Bitcoin Whipsaws as Crypto Liquidations Near $1 Billion
Bitcoin fell below $80,000 on Thursday for the first time in over a month, extending Wednesday's inflation-driven slide. CoinGlass data cited by Decrypt shows $948.22 million in crypto liquidations over 24 hours across 177,440 traders, with long positions accounting for $858.96 million, or 90.6%. The move put U.S. spot Bitcoin ETF holders back underwater: Bitcoin is trading roughly 2% below that cohort's average cost basis near $82,300, a level it had closed above on 21 of the 24 days since September 21. Nexo analyst Iliya Kalchev called reclaiming that line "the first test of any rebound." Ethereum led liquidations at $282.03 million, with Bitcoin just over $200 million, and the day ranked third-heaviest for long liquidations in 90 days behind October 8 and August 22. The largest single order was a $12.03 million Bitcoin long on Binance force-closed at $80,208.96; Bitcoin hit a low of $79,711 before buyers pulled it back near $80,925, with the RSI around 44.