Bitcoin falls below $80,000, $239M in BTC longs liquidated as ETF outflows hit $773M

Bitcoin continued its downward trajectory over the weekend, slipping below $80,000 and triggering significant liquidations across the cryptocurrency market. In volatile Saturday trading, Bitcoin touched intraday lows between $79,146 and $79,263 before fluctuating back toward $80,300. According to CoinGlass, Bitcoin liquidations reached $239.65 million over a 24-hour period. Long positions accounted for $234 million of this total, representing more than 93% of liquidations, while short positions were responsible for just $16.65 million. Across all cryptocurrencies, liquidations soared to $727.78 million across 196,033 traders. Longs represented $686.93 million, or almost 84% of the forced closures, as traders had overwhelmingly positioned for price gains before Bitcoin’s decline through the upper $81,000 zone. Bitcoin also slipped below its 50-day simple moving average, a level that had held near $81,700 for nearly two months.

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