$190M in Crypto Longs Liquidated as Bitcoin Falls Below $66K
Mass liquidations hit the crypto market after Bitcoin slid below $66,000. Data from CoinGlass shows nearly $268 million in total liquidations over the past 24 hours, with long positions accounting for about $188.5 million. Ethereum led individual-asset liquidations with roughly $88 million, narrowly ahead of Bitcoin’s ~$86 million — likely due to larger percentage swings in ETH’s price. BTC traded near $65,600 following a 3% one-day drop; ETH moved toward $1,900. Separately, U.S. Bitcoin spot ETFs recorded net inflows this week (~$815 million), potentially breaking a five-week outflow streak. Key takeaways for traders: heavy long liquidations indicate short-term downside pressure and heightened volatility; ETH showed larger relative moves than BTC; ETF inflows may provide a stabilising institutional demand offsetting some selling pressure.
Bearish
The large-scale liquidation of roughly $188.5M in long positions and nearly $268M total within 24 hours signals acute short-term selling pressure and elevated volatility — classic bearish indicators. Price action (BTC down ~3% to ~$65.6K) confirms momentum to the downside. Ethereum’s marginally higher liquidation total suggests altcoin volatility amplified losses for leveraged longs. While notable ETF inflows (~$815M) indicate renewed institutional demand that could provide medium-term support, this does not immediately neutralize forced deleveraging across derivatives markets. Historically, concentrated long liquidations (e.g., 2021–2022 flash crashes and leverage squeezes) produce sharp, short-lived price drops followed by consolidation; recovery depends on fresh spot demand and deleveraging completion. For traders: expect continued intraday volatility, potential oversold bounces, and tight risk management (reduce leverage, set stops). Longer-term impact is neutral-to-bearish until inflows and on-chain demand sustainably absorb selling and leverage normalizes.