Bitcoin Loses $80,000 as $200 Million in Leverage Unwinds in an Hour

Bitcoin (BTC) slipped below $80,000 on Saturday as more than $200 million in crypto positions were liquidated within an hour. Traders betting on higher prices accounted for $191.33 million of that total. Ethereum (ETH) fell alongside the leading crypto. BeInCrypto Markets data shows the total crypto market cap down 4.06% over the past 24 hours, at $2.72 trillion. The liquidation data shows who absorbed most of the losses. Bullish Traders Absorb the Heaviest Losses The hourly wave formed part of a larger 24-hour total. Data from Coinglass shows $837.12 million in liquidations over that period, hitting 227,681 traders. Long positions made up 82.8% of that figure, or $693.05 million. Short sellers lost $144.07 million. Bitcoin led the tally with $232.55 million, followed by Ethereum at $181.51 million.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to BeInCrypto.