Bitcoin Falls Below $74,000 as Crypto Liquidations Top $1.15 Billion

Bitcoin (BTC) fell below $74,000 during the Nov. 8 weekend sell-off and briefly rebounded above $75,000, while crypto liquidations topped $1.15 billion over the 24 hours measured as of 8:04 a.m. ET Nov. 9.

The market-wide tally included $1.04 billion in long positions and $117 million in short positions, and 167,764 traders were liquidated. Long positions are leveraged bets on rising prices, while short positions benefit from declines. The split showed most forced closures involved traders positioned for gains.

Bitcoin’s rebound was brief as renewed selling erased gains. Separate price snapshots put the weekend low between $73,500 and $73,761, though the trading venues or indexes were not consistently identified. Both readings put Bitcoin below $74,000, but they do not establish one market-wide low.

The liquidation tally covered crypto markets overall, rather than Bitcoin alone, so the $1.15 billion figure does not represent losses in BTC positions alone.