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Crypto

Bitcoin's Price Plunge Triggers $280M in Long Liquidations

Guavy AI Editorial Team
Instruments
BTC
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Bitcoin's price dropped below $84,000 on Wednesday, triggering $280 million in long liquidations over four hours.

The correction occurred near the Wall Street open, with analysts pointing to $82,000 as key support for bulls to hold.

CryptoQuant reported that cumulative 30-day spot demand remained negative, but noted a slight improvement in futures demand.

Despite this, investors remain cautious, with US spot Bitcoin exchange-traded funds (ETFs) having an aggregate cost basis just below $86,000.

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