Bitcoin Loses $80,000 as $200 Million in Leverage Unwinds in an Hour

Bitcoin fell below $80,000 on Saturday as more than $200 million in crypto positions were liquidated within an hour, including $191.33 million in bullish long positions. Coinglass data showed $837.12 million in liquidations over 24 hours across 227,681 traders, with longs accounting for $693.05 million and shorts $144.07 million. Bitcoin and Ethereum led at $232.55 million and $181.51 million in liquidations, while Binance recorded the largest single liquidation, an $11.85 million long on the ETHUSDT pair. Bitcoin traded at $79,464, down 2.48% and its lowest level since September 18, while Ethereum fell 4.71% to $2,288.73.