Bitcoin plunges below $60K, liquidating longs
Bitcoin wicked below $60,000 in a weekend selloff, triggering heavy long liquidations. Traders are split between calling a bottom and warning of more downside.
Confirmed
- Bitcoin wicked below $60,000 in a weekend selloff
- A wick below $60K liquidated many longs
- Equity-linked perpetuals also fell as crypto liquidations fed a broader selloff
Not yet known
- Whether Bitcoin has bottomed, as traders are split on the outlook
- Whether one more hard drop will come before a bottom
- Whether the volatility seen this weekend is tame compared with past crashes
What we know
Traders describe some of the most aggressive, price-insensitive BTC selling they have seen, and a wick below $60K liquidated many longs. One trader notes a bearish weekly structure break. Others expect one more hard drop before a bottom, while another is rotating short profits into spot. A market commentator argues volatility is tame versus past crashes. Whales are buying the ETH dip: wallets tied to Erik Voorhees bought 63,540 ETH for $125.27M. Equity-linked perpetuals also fell as crypto liquidations fed a broader selloff.
Will Bitcoin dip to $55,000 by December 31, 2026?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $8.4m traded · updated 09:31 UTC
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.
“Some of the most aggressive, price insensitive BTC selling I've seen in my entire life.”
View post →“Many whales are still buying the $ETH dip despite the market crash!”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.