Bitcoin Breaks $64K as $100M Liquidations Hit; ETH < $1,900
Bitcoin sold off hard and slipped below $64,000 during the Aug. 10 late-night to Aug. 11 early-hours window. Ethereum also broke down, falling below $1,900, triggering panic and rapid deleveraging in crypto derivatives.
CoinGlass data shows 74,959 traders were liquidated globally in the past 24 hours, with losses totaling about $186.65M. In the last 4 hours alone, liquidation volume reached roughly $100M, signaling a fast liquidity drain and an unwind of leveraged positions.
The article also points to potential earlier BTC supply pressure from holders and miners: MARA Holdings reportedly sold about 23,000 BTC in the first half, and MicroStrategy (Strategy) recently sold 1,690 BTC, following back-to-back disposals totaling 3,327 BTC.
For traders, the immediate risk is higher volatility and tighter risk control for futures and leverage. The liquidation chain can extend downside until order flow stabilizes. Longer term, watch for BTC reclaiming $64K and ETH regaining $1,900 as signs that forced selling may have been absorbed.
Bearish
Both articles frame the move as a deleveraging shock: BTC breaks key support, ETH drops below its support zone, and liquidation data confirms a fast liquidity drain (about $186.65M in 24h, with ~$100M in the last 4h). That typically pressures BTC and ETH toward further downside in the short term because forced selling can keep feeding the selloff until leverage is largely cleared and order flow stabilizes.
On the longer horizon, the mention of potential additional BTC supply (MARA and MicroStrategy/Strategy sales) adds to bearish overhead, reducing the likelihood of an immediate, durable rebound without confirmation from reclaim levels. Traders should therefore expect elevated volatility and should watch for BTC reclaiming $64K and ETH reclaiming $1,900; failure to recover these levels would keep the downside bias dominant.