Bitcoin (BTC) is holding above $80,000 at press time on Thursday, retracing after three straight days of gains. Total liquidations exceeded $500 million in the last 24 hours, suggesting increased short-term volatility in the market. Steering clear of the whipsaw, Toncoin (TON) and Near Protocol (NEAR) emerge as top performers in the same time period with double-digit gains.

Liquidations cross $500 million as Bitcoin recovery weakens

The broader cryptocurrency market is turning indecisive in the short term as Bitcoin tests ground above the $80,000 mark. CoinGlass data shows $516 million of total liquidations over the last 24 hours, with $224 million in long liquidations and $291 million in short liquidations.