Bitcoin Liquidations Exceed $813M as BTC Falls Below $110K
Bitcoin liquidation events triggered over $813 million in crypto market liquidations within 24 hours as BTC fell below the $110,000 support level. This sell-off wiped out leveraged positions from more than 180,000 traders. Bitcoin longs accounted for $277 million of the losses, while Ethereum liquidations reached $263 million. Altcoins suffered similar pressure: Solana saw $38 million in forced exits, Dogecoin $18.7 million and Ripple $17.3 million.
The liquidation wave intensified after a concentrated $39.24 million BTC-USDT long on HTX was liquidated. Bitcoin’s breach of the key support level drove a cascade of margin calls, with the RSI falling near 39, hinting at oversold conditions. Ethereum also retraced after a 27% rally, further unsettling over-leveraged longs across exchanges.
CoinGecko co-founder Bobby Ong noted that such large-scale liquidations clear excess leverage and may set the stage for healthier price action and market consolidation. Traders should manage risk by reducing leverage, using limit orders and disciplined stop-losses, and monitoring funding rates and exchange concentration to avoid outsized exposure.
Bearish
In the short term, the massive Bitcoin liquidations and breach of the $110K support have intensified bearish pressure, driving a cascade of margin calls and pushing the RSI into oversold territory. Traders face heightened volatility as over-leveraged long positions are unwound across BTC, ETH and major altcoins. However, clearing excess leverage may reduce systemic risk and pave the way for market consolidation. Over the longer term, this deleveraging could stabilize prices and set the stage for a healthier recovery once selling pressure subsides.