Bitcoin Drops to $100K on $2B Liquidations, Rebounds to $101K
Bitcoin dropped to just above $100,000 after more than $2 billion in crypto futures positions were liquidated within 24 hours, according to CoinGlass. Approximately 80% of the forced calls—around $1.6 billion—hit long traders, marking the largest liquidation event since September. The sell-off drove Bitcoin down 5.5% intraday and over 10% for the week before it rebounded to about $101,000. Ethereum (ETH), Solana (SOL), Binance Coin (BNB), XRP, Dogecoin (DOGE) and Cardano (ADA) each slipped between 6% and 10%. Bybit led platforms in liquidations with $628 million, followed by Hyperliquid’s $533 million and Binance’s $421 million; the single largest forced closure was an $11 million BTC-USDT long on HTX. Macroeconomic headwinds—Fed rate-cut uncertainty, tax worries and tighter credit—are adding pressure. Traders will watch if Bitcoin can hold above $100,000 as near-term volatility persists.
Bearish
The $2 billion liquidation wave, predominantly in long positions, triggered a swift 5.5% intraday drop and over 10% weekly decline, reflecting fragile market positioning and heightened volatility. Although Bitcoin rebounded to $101,000, the forced liquidations across major exchanges and macroeconomic uncertainty (Fed policy, tax and credit concerns) suggest continued downside risks in the near term. Traders may face caps on further declines at key support, but the immediate impact is bearish.