Bitcoin Sell-Off Deepens as Liquidations Reach $712M

| blocktempo.com
Bitcoin’s pullback intensified in the later update. After an earlier 0.8% 24-hour decline to $85,938, Bitcoin fell 2.46% to $83,419, briefly touching $82,787. Ethereum’s loss widened from 0.3% to a 4.39% drop to $2,577, while Solana and XRP fell 3.35% and 4.86%. The latest figures point to a sharper crypto market sell-off. Liquidations rose from $194 million in the earlier report to $712 million over 24 hours, affecting more than 123,000 traders. Long positions accounted for $651 million of the latest total, and the largest single liquidation was a $26.64 million ETHUSDC position on Binance. Market sentiment also cooled: the Fear and Greed Index fell from 71 to 64 in the later report, although it remained short of widespread panic. Rising US Treasury yields added pressure to risk assets, with the 30-year yield reaching its highest level since 2002. Traders also weighed Federal Reserve minutes indicating another rate increase could come before year-end. Bitcoin moved from trading above its 20-day moving average in the earlier report to closing below the later estimate of $84,203; traders may watch support near $81,000 and $80,300. Ethereum was near its Bollinger lower band, with support around $2,547. These levels and further Fed signals may help traders assess whether the Bitcoin decline and broader crypto sell-off will continue.
Bearish
The price impact is bearish, particularly in the short term. Bitcoin’s decline accelerated from 0.8% to 2.46%, while it moved below its 20-day moving average. The increase in liquidations to $712 million, with $651 million coming from long positions, indicates that leveraged buyers were forced out and may add to near-term selling pressure. Ethereum’s steeper fall and losses across other major tokens reinforce the broader risk-off signal. Rising Treasury yields and the prospect of another Federal Reserve rate increase may further reduce demand for risk-sensitive assets. The picture is not uniformly negative over a longer horizon. The Fear and Greed Index eased to 64 rather than indicating widespread panic, and the reported support zones near $81,000 and $80,300 for Bitcoin and $2,547 for Ethereum could attract buyers if they hold. However, sustained trading below Bitcoin’s 20-day average, continued liquidations, or a break of support could deepen losses. A recovery in price, improving rate expectations, and stabilising yields would help counter the bearish pressure.