Bitcoin Swings From $80,850 to Nearly $83,500 as Liquidations Top $800M

Bitcoin (BTC) swung from $80,850 to nearly $83,500 within hours Tuesday morning, driving about $810 million in crypto liquidations and underscoring a sharp return of near-term market volatility.

More than 173,000 traders had positions liquidated during the 24-hour period. Long positions, which profit when prices rise, accounted for roughly 85% of the total, indicating that the initial drop caught many bullish bets off guard.

The largest individual liquidation exceeded $9.6 million on Binance. Ether (ETH) also fell to about $2,410 before recovering roughly $100, while XRP dropped to $1.31 and later traded near $1.36.

Bitcoin had reached an 18-day low of $80,400 late last week before recovering to $83,000 over the weekend. The asset then failed to break $84,000 Monday, setting the stage for another steep decline and rapid rebound.