Bitcoin flash crash below $68,000 triggers around $400 million in liquidation in under an hour
Bitcoin fell more than 5% from $71,765 to $67,895, its lowest since April, triggering about $394 million in crypto liquidations in one hour. Long positions took nearly all the damage, with Bitcoin traders losing over $209 million, followed by Ethereum at about $87 million. The selloff spread across major altcoins, including Ethereum, XRP, Solana, Dogecoin, and BNB. Over 24 hours, liquidations totaled about $1.02 billion, showing that bullish leverage was crowded before the drop. The move was linked to technical weakness and a symbolic disclosure from Strategy, which said it sold 32 BTC to fund preferred stock dividends. Even though the sale was tiny relative to market volume, it challenged the firm’s “never-sell” image and dented sentiment. Bitcoin also slipped below several key on-chain cost-basis levels, though it remained above its aggregate realized price of about $54,000. Some executives argued broader liquidity shifts and tighter macro conditions mattered more than Strategy’s sale.
