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Bitcoin price tumbles below $87K, triggering $200M in longs liquidated in one hour
Market volatility exposes the risks faced by leveraged traders during abrupt shifts in digital asset prices.
Bitcoin’s price suddenly dropped below $87,000 on Monday, wiping out nearly $200 million in long trades in the last hour, according to data from CoinGecko and Coinglass.
Long liquidations occur when exchanges automatically close leveraged long positions after prices fall below certain thresholds, requiring traders to sell their holdings.
The pullback in Bitcoin sent shockwaves across the crypto market. Ethereum, BNB, and Solana each lost around 4% in the last hour, while XRP fell nearly 3%.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.