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Bitcoin pullback triggers $324 million in crypto liquidations

Roughly 80,000 liquidations hit over 24 hours, with long positions accounting for about $270 million of the losses.

Reported · Written up by our desk · Market Structure

Bitcoin dipped below $78,000 and quickly reversed, triggering more than $300 million in liquidations across crypto derivatives as traders took profits after a sharp rally. According to CryptoSlate, the largest token fell as low as $77,870 in the last 24 hours before recovering above $79,000 by press time.

The pullback spread through major coins, with XRP down about 4% to $1.43 and Solana sliding about 3% to $97 after trading above $101. Ethereum fell to around $2,467, Zcash dropped about 7% to $789, and Cardano and Dogecoin both fell roughly 5%, with ADA around $0.20.

CoinGlass data cited by CryptoSlate put total liquidations at about 80,000 over 24 hours, with losses totaling $324.4 million. Long positions made up roughly $270 million of the wipeout, including about $109 million in Bitcoin longs and roughly $70 million in Ethereum longs, while the largest single liquidation was an $11.91 million Bitcoin position on Binance.

Crypto market maker Wintermute said short traders previously represented about 92% of liquidations during the prior advance, when bearish positions were squeezed after Bitcoin broke above the top of its trading range. CryptoSlate reported that Wintermute turned constructive after ETF flows stabilized and Bitcoin held a range floor, but warned the speed of positioning shifts resembled squeeze behavior, with Alphractal CEO Joao Wedson pointing to rising probabilities for another long squeeze as long exposure became more concentrated and funding rates stayed positive across exchanges.

Latest closeBitcoin $78,451.44 ▼0.1%|Ethereum $2,461.59 ▲0.8%|Solana $96.97 ▲0.4%

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