TREE NEWS reports: Bitcoin fell below $82,000 on the evening of October 12, triggering $488.61 million in total leveraged liquidations across crypto exchanges in 24 hours, Coinglass data shows, hitting 118,142 traders. Long positions accounted for $406.48 million, or 83.2% of the total, while shorts made up $82.14 million. Ethereum saw the largest liquidations at $115.19 million, followed by Bitcoin at $106.61 million; Binance accounted for 52.3% of the total, with the single largest liquidation a $9.65 million BTC long at $81,772.
Bitcoin drops below $82,000 as $406M in long positions liquidated
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AI take
The lopsided long share of liquidations points to a market that had leaned heavily one way into the move, so the drop was less a verdict on fundamentals than a mechanical unwind of crowded positioning. Binance carrying more than half the total concentrates the event on one venue's order books, and Ethereum's outsized hit shows the stress was not Bitcoin-specific. Whether the forced selling exhausts itself or spills into further deleveraging is the open question worth watching.
Generated by AI for reference only.
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