Bitcoin Flump triggers $ 811 million in losses while merchants are preparing for $ 100,000

The brief drop in bitcoin below $ 110,000 in the last 24 hours has sparked one of the heaviest liquidation cycles in recent times.

According to Coinglass data, Crypto Paris merchants on the market lost $ 811.6 million, with more than 179,000 merchants forced to leave positions.

Speaking on this large liquidation event, Sean Dawson, manager of research on Derive.xyz, said Cryptoslate:

“This net decision seems to be the result of a shown positioning, in particular after the recent Driving ETH, and a decrease of one night in the S&P 500, which weighed more broadly on risk assets.”

In particular, the largest single liquidation came from a BTC-USDT order worth $ 39.2 million on HTX.

Long traders, those who bet on an increase in prices, have absorbed most of the losses, abandoning $ 699.5 million, while shorts lost $ 112.2 million. This asymmetrical towards Longs suggests that the traders have poorly judged the strength of the recent gathering, leaving them vulnerable when the price fell.

Bitcoin represented the highest losses, traders losing more than $ 270 million in a single day. On August 25, Glassnode noted that more than $ 150 million in long positions were wiped out, marking one of the largest rinsing since December 2024.

Ethereum followed $ 266 million in liquidations, also dominated by long bets. Other major assets, including Solana, Dogecoin and XRP, have experienced additional samples of $ 38.5 million, $ 18.8 million and $ 17.3 million, respectively.

Bitcoin could dive at $ 100,000

Meanwhile, important liquidations have given an increasingly lowered feeling among market players, according to Derive.xyz data

Data from the Crypto derivative trading platform have shown that cryptographic traders are now a probability of 35% Bitcoin falling to $ 100,000 before the end of September, and 55% that Ethereum can retain $ 4,000.

Dawson explained that the SKEW 25-Delta has become negative for the BTC and the ETH, which means that traders pay more for downward protection than exposure upwards.

According to him:

“This is the highest downward protection demand we saw in two weeks. Traders seem to compete for potential retirees of $ 4,000 for ETH and $ 100,000 for the BTC. ”

He also noted that macroeconomic winds and volatility weighed on prospects, resetting risk appetites through the market.

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