Bitcoin (BTC) fell below $69,000 for the first time in nearly two months, while more than $1.4 billion in crypto positions were liquidated over 24 hours as traders were forced out.
The 24-hour liquidation tally exceeded $1.4 billion. Long positions made up $1.26 billion of the total, compared with $155 million in short positions, and more than 170,000 traders were wiped out.
BTC liquidations accounted for $742 million, the largest asset total, while Ether (ETH) positions accounted for $250 million. Ether fell about 6% toward $1,900, and XRP neared $1.00. Several other tokens also lost more than 6% over the same 24-hour period.
Bitcoin had recently reached $81,000 before falling below $76,000. A rebound toward $75,000 on Wednesday failed, preceding another leg lower. Long liquidations outweighed short liquidations by more than eight to one, showing that traders positioned for rising prices bore most of the forced closures.
Enna Lee
Enna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to [email protected].
