Bitcoin Slips Below $76,000 as Crypto Liquidations Reach $880 Million

Bitcoin fell to $75,568 and Ether dropped to $2,237 as leveraged positions were forcibly closed across crypto markets, with liquidations totaling about $880 million over four hours.

Long positions — bets that prices would rise — made up about $819 million of the four-hour total, compared with roughly $61 million in short positions, or bets on declines. In the one-hour window, liquidations reached $371 million, including $337 million in longs and about $33.3 million in shorts. The 12-hour total was about $908 million.

Over 24 hours, liquidations climbed to roughly $1.033 billion and affected about 198,931 traders. The largest single liquidation in the sample was an ETHUSDT position on Binance worth about $10.94 million.

The decline came after Bitcoin had already fallen below $80,000 and $78,000; Ether had also dropped below $2,400 and $2,300. In leveraged futures trading, a liquidation occurs when an exchange automatically closes a position after the trader’s margin can no longer support it.