Bitcoin Slips To $83,500 As Liquidations Rock The Market

Bitcoin tumbled to around $83,500, marking its lowest level in over a month and triggering a wave of forced liquidations across the derivatives market.

In just 24 hours, nearly $1 billion worth of long and short positions were wiped out as leveraged bets unraveled in a rapid cascade.

The drop below the key $85,000 level accelerated selling pressure. Within minutes, thin order books amplified volatility and sent price spiraling lower. Traders who piled into aggressive long positions at leverage ratios as high as 2.2:1 were flushed out, with roughly $150 million liquidated in a single hour during the peak of the move.

What looked like a routine pullback quickly turned into a full leverage reset. Funding rates snapped back to neutral, signaling that excess bullish positioning had been purged. Market cap swung violently, echoing earlier $140 billion intraday shifts seen during previous volatility spikes.

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