Bitcoin drops below $80K with $670M in liquidations across 210,000 traders as altcoins decline sharply.
Macro & Markets ·
Bitcoin fell below the $80,000 mark for a second time in ten days, dragging major altcoins lower and triggering a wave of trader liquidations. CoinGlass data showed over 210,000 traders were wiped out within a 24-hour period, with cumulative losses reaching $670 million—of which $220 million stemmed from long positions. Ethereum slid below $2,350, XRP confirmed a break below $1.30, and Bitcoin itself touched a nine-day low near $79,750 before finding temporary support.
The selloff reversed a brief rally that had pushed Bitcoin toward $85,000 earlier in the week. Bears took control over the following 36 hours, first driving the asset to $81,000, where it stabilized Friday before accelerating lower on Saturday. Other major altcoins including BNB, Solana, and various layer-one tokens also registered sharp declines during the same period.
Questions remain about whether the $79,750 level will hold as support or whether further downside pressure may emerge, and whether the liquidation cascade will continue to intensify or stabilize as traders reassess positions.