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Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →Clear out junk files and repair common Windows errorsFree Scan →Bitcoin briefly traded below $84,000 during a sharp crypto-market sell-off. CoinMarketCap Academy reported about $487 million in total crypto liquidations over the 24 hours through noon ET, of which about $392 million were long positions—not $487 million in longs. The figures are historical snapshots, not live market data; the report does not expose an exact publication or event date.
What happened to Bitcoin?
CoinMarketCap Academy reported that Bitcoin touched about $82,570 at 5 a.m. ET and was near $83,280 at 12:05 p.m. ET, down 1.4% over the preceding 24 hours. These are prices quoted in that report, not a current BTC quote. The accessible article refers to events around September 25, but does not establish the exact date.
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The decline came amid rising oil prices and Treasury yields, alongside increased bets on another Federal Reserve rate hike, according to the report. Those conditions provide context; the report does not establish that any one of them caused Bitcoin’s move.
How much was liquidated?
CoinGlass data cited by CoinMarketCap Academy put total crypto liquidations at about $487 million over the 24 hours through noon ET. Long positions—trades that generally benefit when prices rise—accounted for about $392 million, or 81% of that total. The $487 million figure covers all liquidations, not longs alone.
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Liquidations occur when leveraged positions are forcibly closed after traders no longer meet margin requirements. The reported total spans the wider crypto market, so it should not be read as a measure of Bitcoin losses alone.
Reported long-liquidation breakdown
| Asset or contract category | Long positions liquidated |
|---|---|
| Bitcoin | About $92 million |
| Ether | About $54 million |
| Crypto-exchange gold contracts | About $19 million |
| Other assets, mostly altcoins | Most of the remaining $228 million |
These approximate breakdown figures are attributed to CoinGlass by CoinMarketCap Academy. The article says roughly three-quarters of long-liquidation losses came from outside Bitcoin.
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What may have contributed to the pullback?
CoinMarketCap Academy quoted Dan Khus, chief analyst at LVRG Research, describing the decline as “more likely a risk-off squeeze following a sharp four-day rally, profit-taking, and a $500 million-plus liquidation wave.” That is Khus’s interpretation, not a verified causal finding. The liquidation figures show the scale and direction of forced closures; on their own, they do not prove what drove spot prices or predict where they will go next.
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What the futures figure does—and does not—show
The report put Bitcoin futures open interest at about 652,000 BTC and described it as one of the lowest levels of the year. It attributed that figure to CoinDesk citing CoinGlass; the underlying dataset and methodology were not available in the material reviewed. Open interest is a measure of outstanding futures contracts, not a count of traders or a direct signal of whether Bitcoin will rise or fall.
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