Bitcoin’s price continues to drop, trading around $84,000 at the time of this writing. It dipped below $82,000 on Binance moments ago, triggering a wave of liquidated leveraged positions across exchanges.
Data from Coinglass shows that the total value of liquidated positions has reached $2 billion over the past 24 hours.
Liquidated long positions approached $1 billion in the past hour alone, intensified by the fresh sell-off that pushed the market further down.
Impact on ETF Investors and Market Dynamics
The latest decline also means that the average spot BTC ETF investor is currently underwater. After all, the asset lost more than $20,000 in the past 10 days, having traded at around $107K on November 11th.
ETF outflows reached a significant $903 billion today, according to data from Farside, contributing to the downward price pressure.
Conversely, the ongoing crash is also prompting many whales to buy the dip. There’s a notable market divergence, with flows shifting from dumping to accumulation by larger wallets, though the price action remains hectic.