Bitcoin News Update: With $1.2 Billion in Liquidations Impacting the Crypto Market, Investors Increase Their Long Positions

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Bitget-RWA2025/11/04 06:12

By:Bitget-RWA

- Crypto market saw $1.2B in liquidations as Bitcoin and Ethereum dropped sharply, triggering massive losses for long positions. - High-profile traders like 0xc2a3 and Machi Big Brother suffered $33M+ losses, while others doubled down on $55M BTC/ETH longs. - Macroeconomic factors (Fed caution) and a $70.9M Balancer exploit worsened volatility, exposing market fragility amid thin order books. - Despite 2.7% BTC declines and Fear & Greed Index at 34, institutional Ethereum buys and AI-driven mining optimism

The crypto market underwent a turbulent day, with liquidations surpassing $1.2 billion as

Bitcoin

(BTC) and

Ethereum

(ETH) saw sharp declines. Data from Coinglass cited by

FXStreet

revealed that long traders suffered the majority of losses, with $1.1 billion in long liquidations compared to $115.5 million in shorts. The selloff was sparked by rapid price drops: Bitcoin tumbled from $108,000 to $105,000, and Ethereum slid from $3,700 to $3,500 in just an hour, according to FXStreet. The largest individual liquidation, worth $33.9 million, took place on HTX, FXStreet also reported.

This sudden downturn caught several prominent traders by surprise. Lookonchain, which tracks smart money, observed that trader 0xc2a3—who previously maintained a perfect win record—incurred losses in

BTC

ETH

, and

Solana

(SOL) trades, flipping their Hyperliquid net PnL from +$33 million to –$17.6 million, per FXStreet. In addition, Machi Big Brother experienced a full liquidation, losing more than $15 million, FXStreet stated. Despite the heavy losses, some traders took bold long positions after the dip. A notable Bitcoin OG, recognized for navigating the October 10 crash, opened $37 million in BTC and $18 million in ETH longs on Hyperliquid, FXStreet reported.

Bitcoin News Update: With $1.2 Billion in Liquidations Impacting the Crypto Market, Investors Increase Their Long Positions image 0

Macroeconomic pressures intensified the selloff. The Coinbase Bitcoin Premium Index, which tracks arbitrage opportunities, hovered near -$30 during the crash, suggesting significant selling from U.S. investors, according to FXStreet. Analysts also cited the Federal Reserve's cautious approach, with Chair Jerome Powell downplaying the likelihood of a rate cut in December, as reported by

an Incrypted report

Ethereum was hit hard as well, with $112.8 million in liquidations amid the broader market slide, according to

a TradingView report

. The altcoin's losses outpaced Bitcoin's, and analysts warned of a possible further drop to $2,750, TradingView added. Solana (SOL) and other leading tokens also suffered, with

SOL

falling 10% and

BNB

declining by 8%, FXStreet reported.

The market's vulnerability was further highlighted by a $70.9 million exploit targeting the

Balancer

DeFi protocol, which siphoned funds to a new wallet, according to

FXStreet coverage

. This incident, combined with thin liquidity and a cascade of liquidations, heightened volatility. Validators on networks such as

Berachain

and

Sonic

implemented emergency protocols, raising concerns about the decentralization of these blockchains, FXStreet noted.

This wave of liquidations continues a trend of extreme volatility. On October 10, nearly $20 billion in liquidations occurred, and October 30 saw over $1 billion in forced closures, FXStreet reported. Bitcoin is currently trading at $107,000, reflecting a 2.7% decrease in the past day, while the Fear and Greed Index dropped to 34, indicating widespread anxiety, according to Incrypted.

Despite the recent chaos, there are still signs of optimism. Bernstein analysts pointed out that Bitcoin miners could benefit from increased demand for AI data centers, leading to higher price targets, Incrypted reported. Meanwhile, BitMine's $300 million Ethereum purchase demonstrates continued institutional faith in crypto assets, TradingView noted.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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