Bitcoin Rebounds Above $80,000 After $8.05M in Hyperliquid Long Liquidations

Bitcoin (BTC) returned above $80,000 after a brief drop below the threshold led to the liquidation of $8.05 million in long positions held by two large traders on Hyperliquid, with $278,000 in realized losses.

At 1:40 p.m. ET (17:40 UTC), BTC traded at $80,108, down 1.78% over the previous 24 hours. That snapshot put Bitcoin $108 above the $80,000 mark after the dip that triggered the liquidations.

A long position is a trade designed to benefit from a price increase. In leveraged trading, liquidation is the forced closure of a position when losses leave too little margin to support it. Bitcoin’s drop below $80,000 moved against the two traders’ long positions and led to their closure on Hyperliquid.

The $8.05 million figure represents the value of the liquidated positions, while $278,000 is the traders’ realized loss. BTC had moved back above the threshold by the time of the market snapshot, but remained lower over the 24-hour period.