Crypto liquidations top $1 billion as Bitcoin falls to 11-week low
BROBROK News · Based on reporting by Decrypt ·
Bitcoin slid to an intraday low of $74,780.91 after a sharp selloff in AI-related stocks and renewed pressure in derivatives markets. CoinGlass data showed $1.05 billion in liquidations over 24 hours, with most of them coming from long positions.
Key points
- CoinGlass recorded $1.05 billion in liquidations across tracked markets in 24 hours.
- Long positions made up 88.2% of the total liquidated amount.
- Bitcoin dropped to $74,780.91, its weakest intraday level since August 21.
- Ethereum also saw heavy liquidations, totaling $167.14 million.
- Technical indicators suggest bearish pressure, even though some longer-term averages remain above the current price.
Why it matters
Heavy liquidations can intensify price declines when leveraged positions are forced out of the market. The move also shows how crypto remains tied to broader risk sentiment, including weakness in U.S. tech stocks.
Original headline: “Crypto Liquidations Top $1 Billion as Bitcoin Tests 11-Week Low”
Summary and analysis written by BROBROK News from the original report. Read the full story on the source website. Not investment advice.