Crypto liquidations hit $550M as Bitcoin price dips below $84K
Summary
Bitcoin fell as much as 2.3% to below $84,000 before recovering near that level, while crypto long liquidations reached about $550 million in 24 hours. Four wallets had opened 40x leveraged shorts on Hyperliquid shortly before the drop. Bitcoin’s open interest then rose from roughly $54.2 billion to $55.3 billion over six hours. The price held near its 21-day moving average around $83,850; analysts identified $82,500 as broader trend support and said a daily close above $86,700 would strengthen the bullish outlook.
