Crypto derivatives liquidations hit $241M as Bitcoin spikes to $85,500
CIE News ·
Around $241 million in crypto derivatives positions were liquidated across 24 hours on September 30, with sudden Bitcoin volatility wiping out $55 million in short positions following U.S. inflation data.
Derivatives trading platforms experienced approximately $241 million in total liquidations over 24 hours on September 30, affecting 73,229 traders according to fameex.com. Long positions comprised the majority of the losses at around $144 million, while short positions accounted for roughly $97.72 million.
Sharp price movements surrounding macroeconomic data fueled the leverage wipeout. Bitcoin.com reported that $55 million in Bitcoin (BTC) short positions were eliminated within a four-hour window following the release of lower-than-expected U.S. PCE inflation figures. BTC quickly pumped above $85,500 before erasing most of the advance to trade back near $84,350.
Data reported by fameex.com indicates that a subsequent BTC move above $87,687 could trigger approximately $1.371 billion in cumulative short liquidations across major exchanges, while a decline below $79,509 could expose around $1.282 billion in long liquidations.