Crypto Markets Face Brutal Reset Overnight as Liquidations Surpass $2B
Bitcoin dropped sharply to $81,000, wiping out long positions, as ETF outflows intensified.
After a calm, nearly flat Thursday, crypto markets have flipped sharply into risk-off mode as a wave of liquidations slams prices lower, pushing total market capitalization down 8% on Friday morning to below $3 trillion.
Bitcoin (BTC) plunged over 10% on the day, falling to as low as $81,050, extending weekly losses above 12%
Data from Coinglass shows more than $2.2 billion in positions affecting more than 400,000 traders were liquidated over the past 24 hours, the largest single-day liquidation event since the Oct. 10 crash — which saw record daily liquidations of nearly $20 billion. The vast majority of liquidated positions were longs, at just…
