Bitcoin liquidations hit $1.65 billion as BTC falls below $70,000

Bitcoin faced a sharp wave of liquidations totaling $1.65 billion within 24 hours on November 13, following a significant drop below the $70,000 level. Most of these liquidations were linked to long positions, signaling increased risk in highly leveraged markets. Data provided by U.Today indicated that Bitcoin declined nearly 9% between November 11 and November 13, reaching a low of $67,449, its lowest point since August. CoinGlass data highlighted that 187,171 traders had positions liquidated across exchanges in this period. Of the total $1.65 billion liquidated, long positions accounted for $1.46 billion, compared to $183 million from short positions. Bitcoin’s share of the losses reached $918.6 million, with 95.4% of the liquidated BTC positions being longs.

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