Bitcoin Falls After Near-Record Surge, Triggering $287.7M in Liquidations

Bitcoin’s price recently made a significant surge to around $73,000, almost hitting the previous all-time high (ATH), registered back in March.

Despite this surge, the bullish momentum faded and a sharp downturn followed, triggereing liquidations of about $287.7 million over the past day.

Traders with long positions were hit hardest, accounting for $253.17 million in liquidations, while short positions saw $33.5 million liquidated.

Bitcoin led the liquidation stats with $90.94 million, followed by Ethereum with $45.68 million, while other cryptocurrencies combined for $47.07 million.

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Binance topped the exchanges in liquidations at $121.27 million, with long positions comprising almost 90% of the total. Bybit and OKX came next with $67.32 million and $61.25 million in liquidations, respectively, primarily affecting long positions as well.

At the time of writing, Bitcoin is trading at $69,800, representing a 3.7% price drop in the past 24 hours with $45.9 billion in trading volume.

The 1-day technical analysis from TradingView remains bullish, with the summary pointing to “buy” at 14, moving averages showing “strong buy at 13, and oscillators at “neutral” with 9 signals.

Ethereum also lost around 4.9% of its value during the same period and is currently priced at $2,510 with $21.4 billion in trading volume.

The biggest loser in the past day is Immutable X, losing almost 15% of its value after the project was hit by a Wells Notice from the SEC.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.