Bitcoin Briefly Drops Below $84,000 as Long Liquidations Hit $487 Million

Bitcoin slipped under $84,000 late Tuesday, touching a low of around $83,800 before settling near $84,071. That marks a 1.7% decline over 24 hours. Ethereum fared worse, losing 3.3% to trade at $2,612, as selling pressure spread across the broader market.

Crypto Liquidations Reach $555.6 Million

Data from Blockto shows $555.6 million in positions were wiped out over the past day, and $487.2 million of that came from long trades. The pace picked up sharply in recent hours, with about $429.8 million liquidated in just four hours, including roughly $415.3 million in longs. A liquidation happens when an exchange force-closes a trader’s position after heavy losses or a shortfall in required margin. Since these numbers rely on public data, the real total could be noticeably higher.

The Crypto Fear & Greed Index eased to 63, still in “greed” territory but down from 67 a day earlier. John added that weaker sentiment and mild altcoin underperformance increased the downside pressure.