Crypto Crash Liquidates $954M in Longs and $127M in Shorts
Crypto liquidations neared $1 billion as traders unwound leveraged long bets and U.S. stocks sold off, with Nasdaq down 4.7%, CoinGlass said.
- Bitcoin fell below $76,000 on Thursday as risk assets abruptly reversed their post-midterm rally, with the total crypto market cap declining 4.6% to approximately $2.66 trillion.
- Following a Democrat sweep of the US House and Senate, traders rotated out of tech stocks amid uncertainty over potential policy implications for the AI sector.
- A cryptocurrency selloff wiped out nearly $1.08 billion in 24-hour liquidations, with long positions accounting for $954.38 million, while mining stocks IREN dropped 16.17% and Cipher Digital fell 15.08%.
- "We may be headed for more volatility as investors digest the election results," Jordan Watson, portfolio manager at Tandem Investment Advisors, told CNBC. Gold surged nearly 3.4% on Wednesday as investors sought safe havens.
- Crypto trader Rekt Capital noted Bitcoin is repeating behavior from May, when rangebound moves preceded a breakdown to $57,000. The asset now risks losing support at its 50-week simple moving average of $75,733.
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25 Articles
Crypto crash liquidates $954M in longs and $127M in shorts
Bitcoin has fallen below $76,000 on Nov. 5 as a cryptocurrency selloff has wiped out $954.38 million in leveraged long positions, pushing total 24-hour liquidations to $1.08 billion. According to CoinGecko, Bitcoin fell 5.8% over the past 24 hours to…
The encrypted currencies lost about $132 billion within 24 hours, and Bitcoin lost to the lowest level in 7 weeks, with the wave of the sale of technology shares shifting to digital assets, and the continued pressure of penance penetration and the withdrawals of Bitcoin boxes.
A sharp sell-off in US stock markets, led by technology stocks, has spread to the cryptocurrency market. Bitcoin fell below $76,000 during the day, while the global cryptocurrency market's value dropped to $2.56 trillion.
Bitcoin, stocks crash in steepest selloff since Liberation Day
U.S. stocks surged Wednesday after Democrats swept the midterm elections, with the Dow jumping more than 1,500 points, or roughly 3%, its biggest gain since April 2025. Bitcoin (BTC) joined the rally, climbing 5.7% to around $80,500. But the celebration was short-lived. The sharp reversal on…
Sharp sell-offs in technology stocks on US exchanges spread to the cryptocurrency market; Bitcoin fell below $76,000 during the day. The global cryptocurrency market's value decreased by 4.22% in the last 24 hours to $2.56 trillion, while Ethereum dropped to $2,258.
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