Bitcoin's round trip to $85,000 liquidates $431 million in trades
- —About $431 million liquidated in 24 hours, with $173 million in shorts hit on the rally to $85,000
- —Longs accounted for $210 million of the $222 million wiped out in the past 12 hours
- —Largest single hit was an $11.8 million BTC long on Binance near $83,500
- —HYPE fell 4.5%, DOGE lost 4%, SOL dropped 3%, ETH slipped 2% to $2,400; XMR jumped 11% to $650
Why it matters: A break below $82,500 could open the door to $70,000, with weakness in tech stocks adding pressure on risk assets.
Source: CoinDesk