Over $157 Million in Long Positions Liquidated in One Hour as Bitcoin Falls Below $102K
Crypto markets experienced a sharp correction as Bitcoin briefly fell below the $102,000 mark, triggering widespread liquidations across leveraged positions.
Coinglass Reports $157 Million in Long Liquidations
Data from analytics platform Coinglass reveals that more than $157 million worth of long positions were liquidated within just one hour. The majority of these liquidations occurred on major exchanges including Binance, OKX, and Bybit.
The sudden move pushed Bitcoin’s price under key support levels, causing a cascade of forced sell orders as traders with high leverage were wiped out.
Market-Wide Shock
The correction affected not only Bitcoin but also Ethereum and other major altcoins, which faced additional pressure as market sentiment turned risk-off.
Analysts suggest that part of the move was driven by automated liquidations and stop-loss triggers, amplified by low weekend liquidity.
A Reminder of Leverage Risks
The event highlights the persistent volatility in crypto derivatives markets. Traders using excessive leverage faced rapid losses as margin calls accelerated the price decline.
Experts warn that this type of sharp liquidation wave often precedes short-term stabilization, but can also serve as a warning signal for over-leveraged market conditions.
The Bigger Picture
Despite the flash liquidation event, Bitcoin remains up significantly on a year-to-date basis. Some analysts believe the dip may represent a technical correction rather than the start of a deeper downtrend.
However, with leverage levels still elevated and open interest near recent highs, traders are likely to remain cautious as volatility continues to dominate the market landscape.
For now, the $102K level has become a crucial short-term support zone — one that may determine whether Bitcoin’s next move will be a rebound or another round of forced liquidations.
