Add as a preferred source on GoogleBitcoin Breaks Below $81,000 as Crypto Liquidations Reach $1.14B
Ether led forced closures with $333 million, while Bitcoin long positions accounted for about $270 million during the 24 hours ending at 1:44 p.m. ET Thursday.
Bitcoin (BTC) fell below $81,000 on Thursday as a broad crypto-market sell-off forced the closure of $1.14 billion in leveraged positions over 24 hours.
Ether (ETH) accounted for the largest share of liquidations at $333 million. Bitcoin long positions represented approximately $270 million, showing the scale of losses among traders positioned for higher prices.
The liquidation total covered the 24-hour period ending at 1:44 p.m. ET (17:44 UTC) on Oct. 8. Liquidations occur when exchanges forcibly close leveraged trades after traders no longer maintain enough collateral.
Bitcoin had traded near $85,000 earlier in the week after failing to break above $87,000 on Oct. 6. The decline erased its early-October gains as selling spread across the broader crypto market.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.