BTC Liquidation Cascade Wipes $412M, Dips Below $66K
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Bitcoin dipped below $66,000 on Monday, triggering $412M in forced liquidations and pushing weekly crypto liquidations to $2.29B; BTC is trading near $67,360. The drop hit clustered leveraged long positions, amplifying selling pressure and market volatility (leverage/liquidation risk). Key downside liquidity/support sits at $63,500–$65,500, increasing short-term downside risk for traders, CEX margin desks and DeFi lenders.
Predictions Markets
See what traders are focused on
- Bitcoin drops below $66K, triggering a $412M liquidation cascade in hours.
- Total crypto liquidations hit $2.29B over the past week amid market volatility.
- Important downside liquidity sits between $63.5K and $65.5K support zone.
Bitcoin fell on Monday morning, briefly dropping below $66,000 and triggering $412 million in forced liquidations in a matter of hours. It was a tough start to the week for traders who had been betting on a continued rally, pushing total crypto liquidations over the past seven days to $2.29 billion. At the time of writing, Bitcoin is trading around $67,360.
What Just Happened
When Bitcoin broke below $66,000, it hit a cluster of leveraged long positions, traders who had borrowed money to bet on Bitcoin going higher. When the price fell through their entry levels, those positions were automatically closed, adding more selling pressure and…
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