Bitcoin News

Story: Bitcoin Drops Below $64K, Wiping Out $87M in Leveraged Long Positions

By Bruce Buterin

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Leveraged Traders Caught Off Guard. Leveraged trading is kind of the double-edged sword of crypto markets.

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What the Week's Reversal Actually Means. The swing from nearly $67,000 down to below $64,000 isn't enormous in percentage terms by crypto…

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Bitcoin got hit hard on Friday. The price slid under $64,000 and took a chunk of the market down with it — $87 million in liquidations on Bitcoin alone, and $312 million across…

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Earlier in the week, Bitcoin had climbed steadily and nearly touched $67,000. That move had traders feeling good, a lot of them stacking leveraged long positions in anticipation…

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Leveraged trading is kind of the double-edged sword of crypto markets. It lets traders amplify their gains when they're right — but when they're wrong, the losses pile up fast…

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The $87 million in Bitcoin liquidations wasn't the full picture either. That $312 million total across crypto markets means altcoins got swept up too.

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No official comments came from major exchanges or financial institutions about the Friday volatility. Unclear whether any of the big players were particularly exposed.

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More context: Bitcoin Drops to $64K After $67K Rejection as BitMEX Shuts Down and Hackers Drain $35M

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The broader market cap contraction — dropping to $1.285 trillion — tells a similar story. It's not a catastrophic number on its own.

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Liquidation events like this one tend to put a spotlight on leverage risk in ways that calmer weeks don't. When Bitcoin is grinding higher slowly, leveraged longs look smart.

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That's the thing about crypto volatility. It doesn't care about your trend line.

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Markets have been through this cycle plenty of times. A strong move up, optimism builds, leverage accumulates, then a sharp reversal wipes a portion of it out.

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Related: Bitcoin Drops Below $65K as Trump Tariffs Hit 60 Countries and Rattle Crypto Markets

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Bitcoin's market cap at $1.285 trillion still puts it in a dominant position relative to the rest of the crypto ecosystem.

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For now, traders are left reassessing positions and watching the next few sessions closely. The week started with momentum.

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