Bitcoin's Drop to $73,510 Drives $715 Million in Long Liquidations

Bitcoin (BTC) briefly fell to $73,510 in a sharp 15-minute move ahead of a weekly candle close, as about $745 million in crypto positions were liquidated over one hour, mostly long bets. BTC fell 2.77% in 15 minutes before rebounding to $75,418, near the level where the drop began. Long positions made up $715 million of the liquidations; short positions accounted for $29.62 million. Bitcoin positions represented $343 million of liquidation value, and Ether positions added $229 million. Together, BTC and Ether made up $572 million in liquidations, while long bets accounted for nearly all of the roughly $745 million total. Ether (ETH) fell more sharply, dropping 7.3% in 15 minutes to $2,060. It later rose to $2,151, but remained 3.22% below its level before the drop.

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