Bitcoin slides toward lows as weekend liquidations hit record
Bitcoin is falling back below $65,000 after roughly $2B of weekend liquidations, with traders split between calling a bottom and expecting more downside.
Confirmed
- Bitcoin has fallen back below $65,000
- Bitcoin is down about 1.8% in three hours from a morning high of $65,564
- Roughly $2B in leveraged positions were liquidated over the weekend
Not yet known
- Whether Bitcoin has reached a bottom, with traders split on the outlook
- Whether a liquidation-driven rally will resume
- Unconfirmed: whether prices are heading toward their lowest levels
- Whether bidding pushes Bitcoin down to $58,000
What we know
Bitcoin has given back the $65,000 level, down about 1.8% in three hours from a morning high of $65,564. A trader notes that $2.06B was liquidated in 24 hours over a weekend, versus $1.2B in the Covid crash. Market news accounts report the selloff is testing committed investors as prices head toward their lowest levels (unconfirmed). Sentiment is split: one trader says a liquidation-driven rally will resume, another says this must be the bottom if crypto is to stay worthwhile, and a bidder says they are bidding down to 58k. Solana traders also contrast $300 SOL with $65 SOL.
Will Bitcoin dip to $60,000 in November?
Traders' bets on Polymarket, not a forecast by Global Eye 24. Polymarket · $596k traded · updated 09:49 UTC
How the story developed
Bitcoin is falling back below $65,000 after roughly $2B of weekend liquidations, with traders split between calling a bottom and expecting more downside.
Bitcoin's latest slide toward multi-month lows wiped out about $2B in leveraged positions over the weekend, more than the Covid crash. Traders are debating whether a bottom is in.
Bitcoin is sliding toward its lowest levels in the current drawdown, with about $2.06B of crypto liquidations reported in 24 hours. Traders are debating whether a bottom is in.
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.
“Covid crash was $1.2B in liquidation. Last 24 hours was $2.06B on the weekend”
View post →“Bitcoin gibt die 65.000 Dollar schon wieder ab”
View post →“bidding here down to 58k”
View post →By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.