Bitcoin slips below $80,000 as $436M in liquidations hit long traders
BTC briefly fell to about $79,280 before recovering above $80,000. Most of the liquidated positions were bets on a rising price.
BITCOIN
CoinShark Newsroom
10/24/20261 min read
Bitcoin dropped below $80,000 on Friday, October 24, touching about $79,280 before recovering to roughly $80,100 by the afternoon in New York.
The move triggered $436 million in liquidations over four hours, according to CoinGlass. More than $404 million of that came from long positions, meaning traders who had bet on a higher price. Bitcoin accounted for about $158 million of the liquidations and Ether for about $137 million.
The sell-off followed a weak session for US tech stocks and comes as spot Bitcoin ETFs swung back to net outflows. Analysts are watching the $80,000–$81,000 range as the key level for demand.
Source: The Crypto Basic, CoinGlass data.