{"id":3275,"date":"2025-03-05T05:11:05","date_gmt":"2025-03-05T05:11:05","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/1-billion-liquidated-in-24-hours-as-bitcoin-drops-below-83000\/"},"modified":"2025-03-05T05:11:05","modified_gmt":"2025-03-05T05:11:05","slug":"1-billion-liquidated-in-24-hours-as-bitcoin-drops-below-83000","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/1-billion-liquidated-in-24-hours-as-bitcoin-drops-below-83000\/","title":{"rendered":"$1 Billion Liquidated in 24 Hours as Bitcoin Drops Below $83,000"},"content":{"rendered":"

The cryptocurrency market has experienced a sharp downturn, with Bitcoin\u2019s price dropping below $83,000. This decline has led to a wave of liquidations totaling $1 billion over the past 24 hours, as leveraged traders faced significant losses amid the market correction.<\/p>\n

According to Coinglass, a total of 305,170 traders were liquidated during this period, reflecting the impact of Bitcoin\u2019s latest decline in price on investor positions.<\/p>\n

Detailing The Total Liquidations<\/h2>\n

The majority of liquidations came from long positions, where traders had bet on Bitcoin\u2019s price increasing. As the market moved against them, forced sell-offs occurred, accelerating the downward momentum.<\/p>\n

significantly lower at $170.08 million.<\/p>\n

Among the affected crypto exchanges, Bybit and Binance recorded the highest liquidation volumes, with $411.54 million and $242.25 million, respectively. Bitcoin itself accounted for the largest share of the total liquidations, contributing $371.66 million.<\/p>\n

\"Crypto<\/p>\n

Ethereum (ETH) was the second most impacted cryptocurrency, with $200.94 million in liquidations, while other crypto assets collectively accounted for over $100 million. The single largest liquidation order took place on Bitfinex, with a $13.40 million BTC position being forcefully closed.<\/p>\n

The high liquidation volume suggests that many traders were caught off guard by Bitcoin\u2019s price drop. With long positions dominating liquidations, it indicates that market sentiment was largely bullish before the downturn.<\/p>\n

\"Bitcoin<\/p>\n

Market Outlook: Can Bitcoin Recover Soon?<\/h2>\n

Despite the sharp downturn, some analysts remain optimistic about Bitcoin\u2019s long-term trajectory. Crypto analyst Javon Marks noted<\/a> that despite the recent decline, indicators still suggest Bitcoin could be gearing up for a larger bullish rally.<\/p>\n

\n

Signs are still pointing towards a monumental bullish rally for Bitcoin.$BTC<\/a><\/p>\n

\u2014 JAVON\"\u26a1\"MARKS (@JavonTM1) March 4, 2025<\/a><\/p>\n<\/blockquote>\n

Meanwhile, RektCapital price reversal in the near term.<\/p>\n

Additionally, Ki Young Ju CEO of on-chain data provider platform CryptoQuant has recently revealed that the “market will likely remain slow until sentiment in the US improves.”<\/p>\n

According to Ju, there has been no significant on-chain activity, and key indicators are neutral which indicates that the bull cycle is still very much intact.<\/p>\n

\n

#Bitcoin<\/a> market will likely remain slow until sentiment in the U.S. improves.<\/p>\n

There\u2019s no significant on-chain activity, and key indicators are neutral, suggesting the bull cycle is still intact. Fundamentals remain strong, with more mining rigs coming online.<\/p>\n

If the cycle ends\u2026 https:\/\/t.co\/fSWl26d0gx<\/a> pic.twitter.com\/byWdweZhSQ<\/a><\/p>\n

\u2014 Ki Young Ju (@ki_young_ju) March 4, 2025<\/a><\/p>\n<\/blockquote>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency market has experienced a sharp downturn, with Bitcoin\u2019s price dropping below $83,000. This decline has led to a wave of liquidations totaling $1 billion over the past 24 hours, as leveraged traders faced significant losses amid the market correction. According to Coinglass, a total of 305,170 traders were liquidated during this period, reflecting…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[245],"tags":[65,247,111,73,71,19,250],"class_list":["post-3275","post","type-post","status-publish","format-standard","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-news","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=3275"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/3275\/revisions"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=3275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=3275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=3275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}