In brief
- CoinGlass showed $1.05 billion in liquidations across its tracked markets over 24 hours; 88.2% came from long positions.
- Bitcoin fell as low as $74,780.91, its weakest intraday price since August 21.
- Bitcoin’s 50-day average price remains above the 200-day, but the charts suggest a building bearish trend.
Bitcoin is trading near $75,570 on Friday after touching $74,780.91 today; its lowest intraday reading since August 21, 77 days earlier.
The crypto market retreat followed a brutal selloff in AI stocks and another round of forced closures in derivatives markets.
According to CoinGlass data, $1.05 billion in crypto have been liquidated over the preceding 24 hours. Long positions, which profit when prices rise, accounted for…
