Bitcoin (BTC) drops below $83,000, $1 Billion liquidated in 24 hours (6/3/25)

Jakarta, Pintu News – The cryptocurrency market recently experienced a sharp decline, with the price of Bitcoin (BTC) dropping below $83,000. This triggered a massive liquidation that reached $1 billion within 24 hours, signaling huge losses for traders using leverage.

Details of Liquidation that Occurred

Most of the liquidation came from long positions, where traders had bet on the rising price of Bitcoin (BTC). However, when the market moved against their predictions, forced selling occurred which accelerated the downward momentum. Data from Coinglass shows that long liquidations accounted for over 80% of the total, with a value of $833.24 million, while short liquidations were much lower at $170.08 million.

Among the affected crypto exchanges, Bybit and Binance recorded the highest liquidation volumes, at $411.54 million and $242.25 million respectively. Bitcoin (BTC) alone accounted for the largest share of the total liquidation, with $371.66 million.

Also Read: Arbitrum (ARB) Surges After Robinhood Entry: What Will Happen Next?

Crypto Market and Its Impact

Ethereum (ETH) was the second most affected cryptocurrency, with liquidations reaching $200.94 million, while other crypto assets collectively accounted for over $100 million. The largest single liquidation order occurred on Bitfinex, with $13.40 million worth of Bitcoin (BTC) positions forcibly closed.

The high liquidation volume suggests that many traders were surprised by the Bitcoin (BTC) price drop. With the predominance of liquidation of long positions, it shows that market sentiment was mostly bullish before the drop.

Market Outlook: Can Bitcoin Recover?

Despite the sharp decline, some analysts remain optimistic about Bitcoin’s (BTC) long-term trajectory. Crypto analyst Javon Marks noted that despite the recent decline, indicators still suggest that Bitcoin (BTC) may be gearing up for a larger bullish rally.

RektCapital pointed out that Bitcoin’s (BTC) decline has fully filled the CME gap between $84,650 and $93,300, potentially causing a price reversal in the near future. Meanwhile, Ki Young Ju, CEO of on-chain data provider platform CryptoQuant, revealed that “the market will likely remain slow until sentiment in the US improves.”

Conclusion

With volatile market conditions, investors and traders are expected to remain vigilant and consider more conservative strategies. While there is a possibility of recovery, it is important to understand the risks and current market dynamics before making investment decisions.

Also Read: Binance Attracts Investors After Bybit Hack, Funds Flow Increases Sharply!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. $1 Billion Liquidated in 24 Hours as Bitcoin Drops Below $83,000. Accessed on March 6, 2025
• Featured Image: Generated by AI