Bitcoin long liquidations hit $300M as BTC slips below $67K
Bitcoin is trading near a two-week low as leveraged positioning unwinds. In the latest move, Bitcoin (BTC) fell below $67,000 (around $66,432) and Ether (ETH) moved toward $2,000, while the CoinDesk 20 Index (CD20) dropped to its lowest since March 9.
Derivatives show the selloff is being amplified by crowded longs. Nearly $300 million in long crypto futures were liquidated over 24 hours versus about $50 million in short liquidations—described as the fifth such near-$300M episode in 10 days. This pattern suggests traders were positioned for an Iran-related risk rally that never materialized.
Macro pressure is cited as the catalyst: oil has stayed above $100 and fears around Iran de-escalation have supported a risk-off move, with U.S. equity weakness (Nasdaq 100 futures ~10% below January highs) weighing on crypto.
On positioning, XRP-related futures show renewed bearish activity: XRP fell ~2.5% in 24 hours while futures open interest rose ~2% to about 1.95B XRP. Negative cumulative volume delta and sub-zero funding rates point to increased shorting demand. Several other majors (SOL, DOGE, BNB) also carry a bearish futures profile, while SHIB shows aggressive derisking.
Volatility signals are mixed: 30-day implied volatility for BTC and ETH continued to decline even as spot weakened, implying traders are not yet in full panic. However, Deribit early Friday expiry of ~$15B in bitcoin options removes a common “expiry magnet” around $75,000, potentially leaving room for further downside if macro pressure persists.
Not all tokens fall equally: ONDO rose more than 8% after Ondo Finance said it agreed to tokenize five Franklin Templeton ETFs on the Ondo Chain. Still, the article notes broader altcoin weakness and neutral RSI, suggesting further downside risk for Friday.
Bearish
该消息对交易者的核心含义是“BTC下跌由杠杆多头清算驱动，且宏观风险偏好仍偏弱”。文中提到近24小时约3亿美元的多头清算显著高于空头（约5000万美元），而且这是10天内第5次逼近该量级，说明市场此前多头拥挤、当宏观转弱时容易形成连锁抛压。类似的“多头集中清算+期权到期磁铁失效”组合，往往在短期会拉长下跌尾段，并提高反弹的难度。
短期方面：BTC跌破6.7万美元后，清算带来的被动卖压尚未完全消化，且XRP等币种的持仓与资金费率数据偏向做空增量，可能继续压制反弹。期权到期叙事消退也意味着“跌到某价位就能被资金托住”的概率下降。
中长期方面：如果油价高位与伊朗风险的不确定性继续，风险资产（含加密与纳指相关）可能仍承压；但文中也指出BTC/ETH隐含波动率下行、RSI偏中性，表明市场尚未进入极端恐慌阶段，这可能意味着一旦宏观缓和，回撤深处的流动性修复仍存在机会。总体因此判断为偏 bearish，但需要观察宏观（油价、风险事件进展）是否改变趋势。