Overview
- CoinGlass data show roughly $1.68–$1.7 billion in 24-hour liquidations affecting about 270,000 traders, with about 93% coming from long positions.
- Bitcoin and Ethereum fell to two-month lows near $80,800 and $2,687 on Binance as total crypto market value dropped about 6%.
- U.S. spot Bitcoin ETFs recorded $817 million in net withdrawals on Thursday, led by BlackRock’s IBIT with about $318 million, Fidelity’s FBTC at $168 million, and Grayscale’s GBTC near $119 million.
- Derivatives positioning remains elevated with Binance futures open interest at roughly 123,500 BTC, and CoinGlass data indicate a sizable cluster of shorts that could be forced to cover if prices rebound toward $92,000.
- Reports linked the selloff to a cascade of forced selling alongside risk-off sentiment tied to U.S.–Iran tensions and uncertainty over the next Federal Reserve chair.