Bitcoin Dips Under $79,500 as Liquidations Hit $435 Million in Four Hours

Bitcoin briefly fell below $79,500 on Saturday, and traders betting on higher prices took most of the damage. Of roughly $435 million in positions wiped out over four hours, about $405 million were longs.

Ether and Hyperliquid Liquidation Data

Ether liquidations hit $137 million, not far behind bitcoin’s $158 million, even though ether is only about 18% of bitcoin’s market value. Ether traded near $2,314, down 3.8%. Binance saw $226 million liquidated, mostly longs, and Hyperliquid recorded $70 million, nearly all of it longs. The biggest single order was an $11.85 million ether long on Binance.

Bitcoin ETF Outflows Add to the Pressure

US spot bitcoin ETFs lost $770 million across Thursday and Friday, after three days of inflows worth $1.078 billion. Friday’s outflow was $137 million, led by BlackRock’s IBIT at $110 million and Fidelity’s FBTC at nearly $32.1 million. Spot ether funds are on track for another weekly outflow.