Bitcoin Drops Below $81,000, Sparking Hundreds of Millions in Liquidations
Photo: TheCoinrise
Long positions bore the brunt of losses as leveraged bets unwound across derivatives markets. Bitcoin fell below the $81,000 mark, a move that forced open leveraged positions to close automatically across major derivatives exchanges. The decline rattled traders who had bet on continued upward momentum. CryptoBriefing reported that the drop triggered $485 million in liquidations tied directly to Bitcoin's price action. BeInCrypto separately reported a broader figure, estimating total crypto liquidations across the market approached $1 billion. The two outlets differ on the scale of the sell-off, but both point to a sharp and sudden deleveraging event.
Source: TheCoinrise
