Bitcoin Crashes to $83,280 as 94% of Liquidations Are Longs
- —BTC slid to $83,280, down 3.5% in 24 hours, within a $86,648–$83,273 range
- —BTC liquidations totaled $166.81 million, with $156.69 million (94%) in longs
- —Binance accounted for $84.49 million of BTC liquidations, or 50.65% of the total
- —BTC broke below its 20-day average at $84,182; the 50-day average sits at $80,278
Why it matters: The failed breakout above $87,000 and the long-liquidation cascade have weakened Bitcoin's near-term structure; holding $83,000 will determine whether the slide extends toward $80,278.
Source: The Crypto Times