Bitcoin Slips Below $80,000 as $404 Million in Crypto Longs Are Liquidated

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin briefly fell below $80,000, triggering approximately $404.15 million in cryptocurrency long liquidations over four hours. The move coincided with heavy withdrawals from US spot Bitcoin exchange-traded funds (ETFs), adding to signs of caution among leveraged traders and some institutional investors. TL;DR $404.15 million in longs liquidated: Long positions accounted for most of the $436.44 million in crypto liquidations over four hours. Bitcoin briefly fell below $80,000: BTC reached approximately $79,280 before recovering above the threshold. ETF outflows added context: US spot Bitcoin ETFs recorded a combined $773 million in outflows on Thursday and Friday. Bitcoin’s Drop Triggers Forced Selling According to CoinGlass data cited in reporting by The Block, cryptocurrency liquidations reached $436.44 million over the four-hour period, with $404.15 million coming from long positions. Long traders generally profit when prices rise. When they borrow funds or use derivatives leverage, a relatively small adverse move can reduce their margin below an exchange’s required level, forci...