Bitcoin breaks below $60K in liquidation cascade
Bitcoin plunged through $69K and then under $60K on Friday, triggering large leveraged liquidations, including four whales worth $143.89M. Sentiment is deeply bearish though some traders call for a bottom.
What we know
Traders report BTC dropping below $60K, after an analyst flagged a break of parabolic support under $69K. On-chain data shows four whales liquidated for over $10M each, wiping out $143.89M in positions. Traders describe hyper-leveraged degens being liquidated in real time and predict a bottom soon, while others say such moves are normal for crypto. Ethereum and altcoins are also pulling back, with XRP seen heading to $0.60–0.90. Market news accounts say Strategy's unrealized bitcoin loss is about $6B (unconfirmed). Strategy's Saylor said earlier this month long-term holders should keep the option to move assets. Views remain split, with some calling for $200K and others expecting further downside.
What people are posting
Posts on X this story draws on. They are individual users' views and have not been verified by Global Eye 24.
“Four whales got liquidated for over $10M each, with a total of $143.89M in positions wiped out!”
View post →“Wow can’t believe BTC is sub 60K”
View post →“At this rate we will be at those levels sooner”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.