Bitcoin Price Drop Triggers $729M Crypto Liquidations
- Bitcoin price fall prompts significant crypto liquidations.
- Major impact on Bitcoin and altcoin markets.
- No statement from leading exchange CEOs.
Over the last 24 hours, approximately $729 million in leveraged crypto positions were liquidated, primarily affecting long positions in Bitcoin as prices fell sharply below $116,000 support levels.
This event indicates potential volatility in the crypto market, highlighting risks for leveraged positions and reflecting broader market uncertainty without triggering major regulatory or institutional responses.
Over the past 24 hours, approximately $728–$729 million in leveraged crypto positions have been liquidated. The majority, around $579M from long positions on Bitcoin, occurred as its price fell sharply below the $116,000 support.
Binance, Bybit, and OKX were the primary exchanges involved, processing around 80% of the liquidations. Key company executives have not issued any emergency communications or noteworthy statements in response to the liquidation event.
The liquidations have significantly impacted the crypto market, particularly affecting Bitcoin, Ethereum, Solana, and XRP. Bitcoin alone saw approximately $500M in liquidated long positions, highlighting its vulnerability to price fluctuations.
As stated by Riya Sehgal, Delta Exchange, the drop in Bitcoin’s price from $119,000 to below $116,000 triggered cascading liquidations. This event demonstrates the impact of automated trading systems and stop-loss orders in volatile markets.
Edul Patel, CEO of Mudrex, suggested that if Bitcoin moves consistently below $115,300, further declines to $110,000 may occur. GitHub and Discord channels for BTC and ETH showed no emergency responses or roadmap changes.
“A sustained move below $115,300 could take BTC down to $110,000 before any relief rally.” — Edul Patel, Co-founder and CEO, Mudrex
Historical trends show similar liquidation cascades causing temporary market pressure. These events typically lead to stabilization or brief relief rallies. Current market data suggests that excessive leverage is flushed out, temporarily reshaping trading dynamics.
