Bitcoin Liquidations Surpass $280M as Price Slips Below $84K

Bitcoin's price slipped below $84,000 after failing to hold above the $87,000 area, triggering a wave of leverage unwinds that totaled about $280 million across roughly four hours.

The move was characterized as part of a narrow intraday range where liquidity built up on both sides as market participants tried to force a directional move. However, this balance broke briefly as price weakness accelerated.

According to CoinGlass liquidation data, approximately $280 million in liquidations occurred during the four hours leading up to the time of writing. This indicates that derivatives positioning was vulnerable when support failed.

The level of $82,000 is being closely watched by traders, who are warning that if BTC fails to maintain this lower bound of the current structure, they may increasingly revert to viewing the market through the lens of a broader prior range (between $60,000 and $80,000).