Bitcoin tumbles below $82.000, sparking $325m in liquidations in half an hour

The crypto market has taken a heavy blow. Bitcoin has fallen below $82.000, while Ethereum has plunged below $2.500. The sudden price drop has triggered a wave of liquidations among traders using borrowed money to bet on rising prices. In just 30 minutes, roughly $325 million worth of long positions were liquidated. According to CoinGlass data, total liquidations over the past 24 hours topped $841 million.

Bitcoin price slides towards $81.000

Bitcoin is now trading around $81.350, down 2.37%. Earlier in the day, BTC was still trading above $83.000, but selling pressure increased steadily throughout the afternoon.

The latest move is particularly notable. In a short space of time, Bitcoin fell from about $82.700 to $81.300, wiping out more than $1.400 in value during a single sharp drop.

Other major cryptocurrencies are also taking heavy hits. Ethereum has fallen below $2.500, while Solana has dropped under $110. BNB has lost the $750 mark and XRP has slipped below $1.40.

The decline is therefore affecting almost the entire crypto market. Traders using leverage to bet on further gains are feeling the pain in particular.

More than $421 million liquidated in one hour

CoinGlass figures show how quickly liquidations are mounting. In the past hour alone, $421.59 million worth of trading positions were wiped out.

Of that, $395.34 million consisted of long positions. Short positions accounted for just $26.25 million.

That means about 94% of all liquidations in that hour came from traders betting on rising prices.

Over the past four hours, the total rises to $557.08 million. Of that, $519.40 million came from long positions.

The figures are also striking over longer periods. In the past 12 hours, $758.51 million was liquidated, while the 24-hour total comes to $841.74 million.

According to CoinGlass, no fewer than 147,101 traders were liquidated in those 24 hours. The largest single liquidation took place on Binance and involved a BTCUSDT position worth $11.82 million.

Ethereum takes biggest hit in liquidations

Notably, Ethereum accounts for the largest share of liquidations in the past hour.

According to the liquidation heatmap, $146.64 million worth of ETH positions were wiped out. Bitcoin follows with $78.60 million, while Solana accounts for $21.56 million.

XRP was also hit, with $15.52 million in liquidations. Dogecoin’s total came to $10.86 million.

The huge number of liquidated long positions could amplify the price decline further. When trading platforms automatically close positions, this creates additional selling pressure in a market that is already under strain.

The area around $81.000 is now important for Bitcoin. The price is approaching this level after the sharp drop, and it remains to be seen whether buyers show enough interest to prevent a further slide towards $80.000.