More than 172,000 traders were liquidated in one day as Bitcoin extended its slide. The drop pushed BTC out of the world’s top 10 assets by market value and down to 13th place. Total crypto liquidations reached $921 million in 24 hours, with long positions taking most of the damage.
Bitcoin accounted for $352 million of the total liquidations. Ethereum followed with $241 million, while XRP, ZEC, HYPE, SUI, DOGE, and NEAR also posted losses. Long positions made up more than 90% of all liquidations.
This pattern showed that many traders expected a rebound that never materialized. As prices kept falling, forced sales rose across the market. The result was a sharp wipeout for leveraged bullish bets.
Four-hour liquidations also remained heavy at $95 million. Long positions made up $55 million of that total. Short positions totaled $39 million, indicating mixed pressure across the short-term market.
Bitcoin traded near $73,125 at the time of writing. It fell 1.70% in 24 hours and lost 5% over the past week. Its intraday range moved between $72,485 and $75,280.
The wider crypto market moved lower as well. Ethereum fell 5.60% over the week. BNB dropped 2.50%, while XRP declined 3.15%. Tether slipped by 0.005%, according to CoinGecko data.
Elsewhere, gold kept its place as the world’s most valuable asset. Its market capitalization topped $31 trillion, according to CompaniesMarketCap. NVIDIA, Google, Apple, and Microsoft followed behind it.
Also Read: BTC Whale Buying Stalls as CryptoQuant Warns of Slower Market Demand
Technical data also pointed to weakness. On the 1-day chart, the 10- to 200-period moving averages showed negative momentum, according to TradingView. The RSI stood at 36, which traders view as neutral. Two other oscillators, however, signaled sales.
A move above $75,000 could help restore confidence. A break below key support levels could extend the decline. Will Bitcoin regain enough strength to return to the top 10 assets?
MicroStrategy also drew attention after withdrawing 411.5 BTC from Coinbase Prime hours after depositing it. The reversal eased fears that Michael Saylor’s firm planned its first BTC sale in years.
On-chain trackers said the initial transfer marked MicroStrategy’s first direct exchange move in nearly two years. The transfer split into two batches of about 205 BTC each. Smaller wallet transactions also appeared during the same period.
Meanwhile, BitMine Immersion Technologies bought 25,000 Ethereum for $50.6 million. The purchase extended its corporate ETH accumulation program. Strategy still holds 843,738 BTC valued above $62 billion, and it has not bought Bitcoin since May 18.
Bitcoin’s drop, along with $921 million in crypto liquidations, shows how quickly market leverage can unwind when price support fails. Long traders took the biggest hit as Bitcoin slipped to 13th among global assets. Traders will now watch whether BTC can recover above $75,000 or face more downside.