{"id":49677,"date":"2025-03-05T05:00:07","date_gmt":"2025-03-05T05:00:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=49677"},"modified":"2025-03-05T05:00:07","modified_gmt":"2025-03-05T05:00:07","slug":"1-billion-liquidated-in-24-hours-as-bitcoin-drops-below-83000","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=49677","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<\/a>.<\/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

Data<\/a> from Coinglass shows that long liquidations accounted for over 80% of the total, reaching $833.24 million, while short liquidations were significantly lower<\/a> 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

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<\/a>, it indicates that market sentiment was largely bullish before the downturn.<\/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

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

\u2014 JAVONMARKS (@JavonTM1) March 4, 2025<\/a><\/p>\n

Meanwhile, RektCapital pointed out <\/a>that Bitcoin\u2019s decline has resulted in a fully filled CME gap between $84,650 and $93,300, which could potentially lead to a price reversal<\/a> in the near term.<\/p>\n

Additionally, Ki Young Ju CEO of on-chain data provider platform CryptoQuant has recently revealed that the \u201cmarket will likely remain slow until sentiment in the US improves.\u201d<\/p>\n

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

Featured image created with DALL-E, Chart from TradingView<\/p>","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":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-49677","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49677"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=49677"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/49677\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=49677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=49677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=49677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}