Bitcoin and Ether Extend Selloff as $1.13 Billion in Crypto Liquidations

Bitcoin and Ether extended a broad crypto-market selloff Thursday as $1.13 billion in leveraged positions were liquidated over 24 hours, intensifying losses across major digital assets.

Bitcoin (BTC) fell 3.3% to $80,550.95 by 1:30 p.m. ET (5:30 p.m. UTC), trading between $80,426.95 and $83,562.71. Ether (ETH) dropped 5.7% to $2,413.37, with a 24-hour range of $2,409.36 to $2,584.49.

Long positions made up $1.05 billion of the liquidations, while short positions accounted for about $82.70 million. Roughly 187,974 traders were liquidated during the period.

Ether led the major assets in liquidation losses at $318.53 million, followed by Bitcoin at $286.89 million. The overall crypto market lost 3.31%, leaving its combined value near $2.83 trillion.

The decline came as markets assessed a restrictive Federal Reserve outlook. Minutes from the central bank’s September meeting indicated that most participants considered another increase in the federal funds rate likely appropriate by year-end.