Bitcoin Falls to $76,350 as Crypto Liquidations Reach $1.52 Billion

Bitcoin (BTC) fell to $76,350 as crypto liquidations totaled $1.52 billion over 24 hours, with most of the forced closures coming after Binance confirmed it was hit by a major hack.

BTC touched its lowest level since Sept. 18, then rebounded to just above $78,000. It had tested $82,000 a day before the latest Federal Open Market Committee meeting ended, then pulled back toward $80,500 before the latest decline.

Of the $1.52 billion in liquidated positions, $1.36 billion came after the hack, and long positions accounted for most of the total. Bitcoin and Ether (ETH) represented $482 million and $365 million in liquidations, respectively. Nearly 240,000 traders had positions liquidated over the 24-hour period.

Ether was down 3% on the day and below $2,250, while BNB fell more than 4% to $715 and XRP traded at $1.25. The largest single order in the liquidation tally was on Binance and exceeded $11 million.