Bitcoin price now: BTC moves end up liquidating $1.7 billion in bullish crypto bets
Over $1.7 billion in leveraged crypto positions, mostly long bets, were liquidated as Bitcoin fell to $81,000 amid market jitters.Summary
The crypto market experienced a sharp downturn over the past 24 hours, resulting in $1.68 billion in liquidations across major exchanges, primarily wiping out leveraged long positions, which accounted for nearly 93% ($1.56 billion) of the total. Bitcoin (BTC) saw about $780 million in liquidations, while Ether (ETH) followed with over $414 million. The pain was concentrated on venues like Hyperliquid, Bybit, and Binance, where traders were heavily leaned into upside bets. Liquidations occur when leveraged traders fail to meet margin calls, triggering forced selling that creates a cascading feedback loop. This event is seen as flushing out speculative excess and removing 'weak hands,' suggesting the price move was driven more by leverage breaking than by new bearish conviction.
(Source：CoinDesk)