BTC Drops to $80K as US Moves $1.5B in Seized Coins
Transfers to Coinbase Prime don't prove a sale, but with $930M of $1.14B in 24h liquidations hitting longs, the optics alone tightened an already fragile tape.
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Transfers to Coinbase Prime don't prove a sale, but with $930M of $1.14B in 24h liquidations hitting longs, the optics alone tightened an already fragile tape.
Bitcoin's break below $81K marks the largest long-side wipeout in months, with short-term holders sending 45,600 BTC to exchanges at a loss as ETH took the worst damage.
The liquidation total captures a sharp burst of forced crypto-market activity, adding pressure to an already fast-moving Bitcoin selloff.
Thin spot and ETF trading, elevated yields and more than $1B in liquidations leave Bitcoin exposed even if the Fed pauses in October.
Long positions accounted for $692 million of the forced closures, pointing to leveraged bullish bets bearing most of the downturn.
The rapid liquidation wave hit Bitcoin, Ether and major altcoins, showing how quickly leveraged positions can unwind when prices cross key levels.
Bitcoin and Ether both broke key round-number price levels as a wave of crypto liquidations hit within one hour.
The $252.3M position puts two nearby ETH price levels in focus, where a market move could trigger forced liquidation.
Rising oil and Treasury yields are tightening pressure on risk assets, while roughly $550 million in leveraged crypto positions were recently liquidated.
More than 95% of ETH liquidations over the past 24 hours were long positions, while $202M in spot ETF outflows added pressure on demand.
Positive U.S. spot ETF flows and forced futures closures occurred together, but their figures cannot be netted into a measure of buying or selling pressure.
A leverage flush is one analyst’s read, but $83,000 is the next price test as oil, Treasury yields and geopolitical risk weigh on markets.
Brent above $101 and a stronger dollar pressured risk assets, while four days of recent U.S. spot Bitcoin ETF inflows offered a counterpoint to the sell-off.
The timing drew attention, but the wallet activity does not prove insider knowledge or explain the full move; long liquidations also added selling pressure.
The liquidations span crypto longs, adding pressure beyond Bitcoin as leveraged bullish positions are forced out.
The liquidation wave puts leveraged positioning in focus, as forced exits can add selling pressure during a sharp market move.
The three-minute liquidation highlights how quickly leveraged ETH positions can be wiped out during a sharp price move.
The level marks a potential acceleration point, while smaller clusters near $83K and $75K add other levels to watch.
A short squeeze of this speed and scale signals forced buying across leveraged positions, a dynamic that historically amplifies upside momentum well beyond the initial catalyst.
A trader argued crypto has shown resilience against a broad risk-off backdrop, while pointing to institutional interest and the approaching US midterms.