Bitcoin falls below $82,000 as $120 million in crypto longs get liquidated
Photo: Crypto Briefing
A 15-minute slide wiped out leveraged bullish bets and extended a choppy stretch for the largest crypto asset Bitcoin slipped below $82,000, and leveraged bulls paid for it almost immediately. Roughly $120 million in long positions across crypto were liquidated in the span of 15 minutes. The drop pushed Bitcoin under the $82,000 mark during intraday trading on October 12. As the price fell, exchanges began forcibly closing leveraged long positions, which are bets that the price would keep rising. That forced selling is called a liquidation.
Also reported by Bitcoin.com News.
Source: Crypto Briefing
