Bitcoin Drops 3.00% in an Hour to $76,571 as Long Liquidations Reach $101 Million

Bitcoin (BTC) fell 3.00% in one hour to $76,571 at 10:40 a.m. ET Thursday, Nov. 5, while long-position liquidations across Binance, Bybit and OKX reached $101 million over the same hour. BTC was down 5.02% over the previous 24-hour period.

The Binance BTC/USDT spot quote was $78,936 one hour before the $76,571 reading. Both are spot prices for Binance's BTC/USDT pair. The $2,365 difference between the readings corresponds to the reported 3.00% hourly drop. The 24-hour loss compares the same observation with BTC's price 24 hours earlier.

During that hour, long liquidations on Binance, Bybit and OKX totaled $101 million, compared with $5.26 million in short liquidations. Long liquidations exceeded short liquidations by $95.74 million. The price and liquidation figures track different measures: a BTC/USDT spot quote on one exchange and liquidation totals across three. Bitcoin's market capitalization was about $1.556 trillion, making it the largest crypto asset by market value.