Bitcoin Plunges Below $80K as $200M in Leveraged Positions Liquidated
Bitcoin and Ethereum prices fell sharply as over $200 million in crypto positions were liquidated within an hour.
Bitcoin and Ethereum prices fell sharply as over $200 million in crypto positions were liquidated within an hour. Bitcoin (BTC) is trading at $80,194.00, up 0.7% since this brief published. This is an original TLT brief based on reporting by BeInCrypto, with live market data added, as of Sat, 24 Oct 2026 17:00:04 UTC.
The sudden liquidation of leveraged positions highlights the market's vulnerability to rapid price swings, particularly when traders are betting heavily on price increases.
- Over $200M in crypto positions liquidated in one hour.
- Bitcoin dropped below $80K, Ethereum fell to $2,300.
- Traders betting on higher prices accounted for $191.33M of liquidations.
- Ethereum Plunges Below $2,400 Amid Inflation-Driven Selloff and Liquidations
- Bitcoin Plunges Below $80K as $200M in Leveraged Positions Liquidated — this brief
On Saturday, 
Bitcoin's price dropped below the $80,000 mark following a wave of liquidations that saw over $200 million in crypto positions closed within a single hour.
According to BeInCrypto Markets data, the majority of these liquidations, totaling $191.33 million, were from traders who had taken long positions, indicating a significant shift in market sentiment.
Ethereum also experienced a downturn, falling alongside Bitcoin as the broader crypto market saw a 4.06% decrease in total market capitalization over the past 24 hours.
This sudden liquidation event underscores the role of leveraged trading in amplifying market volatility. When traders bet heavily on price increases and prices move in the opposite direction, it can trigger a cascade of liquidations.
As of the latest data, Bitcoin is trading at $79,648, down 2.43% in the last 24 hours, while Ethereum has fallen to $2,300.64, representing a 4.34% decline. The total crypto market cap now stands at $2.73 trillion.
Since this brief published about 1 hour ago, Bitcoin (BTC) has moved from $79,648.00 to $80,194.00 — +0.69%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from TLT's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
Will Bitcoin dip to $70,000 by December 31, 2026?
Crowd-implied probability on Polymarket, $169.19K 24h volume, resolves Jan 1 — snapshotted when this brief published (Oct 24 16:05 UTC). A market price reflects what traders collectively expect; it is not a forecast by TLT and will have moved since. View the market ↗
At today's peer-to-peer rate, 1 BTC ≈ ₦110.97M (about $80,194.00), down 1.7% over 24 hours. The naira itself trades about 4.1% above the official rate on the P2P market, so a Nigerian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Bitcoin Plunges Below $80K as $200M in Leveraged Positions L — questions & answers
What caused Bitcoin's price to drop below $80K?
The drop was triggered by the liquidation of over $200 million in leveraged crypto positions within an hour.
How much of the liquidation was from long positions?
Traders betting on higher prices accounted for $191.33 million of the total liquidations.
What is the current state of the overall crypto market?
The total crypto market cap is $2.73 trillion, down 4.06% in the past 24 hours.
How much is 1 Bitcoin worth in naira today?
About ₦110.97M at the live peer-to-peer (P2P) USDT rate, which is what Nigerians typically trade at — equivalent to roughly $80,194.00. The naira price moves with both BTC's US-dollar price and the USDT/NGN rate; use our Bitcoin in naira page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is up 0.69% since this brief first published — trading at $80,194.00 now versus $79,648.00 at publication. TLT re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original TLT brief that synthesises reporting from BeInCrypto. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original TLT brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.