Based on figures from CoinGlass, total crypto liquidations reached $555.6 million throughout the preceding 24 hours, with long positions accounting for $487.2 million of that total.
As bullish long liquidations spiked, Bitcoin (BTC) temporarily dipped underneath the $84,000 mark, touching a low near $83,800 during late Tuesday trading.
Data from The Block’s bitcoin pricing tracker indicated that the leading cryptocurrency by market cap decreased by 1.7% over the last 24 hours, resting at $84,071 by 11:20 p.m. ET on Tuesday. Meanwhile, Ethereum (ETH) experienced a 3.3% decline, bringing its price to $2,612.
Statistics provided by CoinGlass data show that digital asset liquidations hit $555.6 million during the prior 24 hours, featuring $487.2 million in liquidated long bets. Out of that sum, roughly $429.8 million was wiped out over a four-hour window, which included about $415.3 million in bullish positions.
Forced closures of trader positions happen when losses mount or available margin falls short of maintaining minimum requirements. Public metrics usually supply these liquidation totals, meaning the actual magnitude of market liquidations could be notably higher.
Dominick John, an analyst at Zeus Research, noted, “Bitcoin’s pullback appears primarily driven by profit-taking and forced long liquidations, following a build-up in open interest and funding rates that left the market vulnerable to deleveraging.”
The Crypto Fear & Greed Index registered a score of 62, representing a state of “greed,” which dropped down from the previous day’s reading of 67. John remarked that this cooling mood, combined with slight weakness among altcoins, intensified downward pressure on prices.
Jeff Ko, chief analyst at ViaBTC, stated, “Let’s not forget that BTC actually closed Q3 up roughly 40%, alongside $6.5 billion of spot ETF inflows. If the $82,000-$83,000 area continues to hold, I would still view the current price action as a pretty constructive consolidation following the September breakout.”
Originally published at https://www.theblock.co/news/markets/2026-10-06-bitcoin-slides-crypto-long-liquidations-surge-417882.
