Important points
- Bitcoin fell to $92,500 on Tuesday, triggering the liquidation of $83 million in long positions within an hour.
- BTC rose steadily over the weekend, surpassing $94,000 on Monday and reversing midday on Tuesday.
Bitcoin fell to $92,500 at midday on Tuesday, triggering an $83 million long-term liquidation across crypto markets within 60 minutes, according to data from CoinGlass.
The move ended a brief bull market that began over the weekend, when Bitcoin rose steadily and peaked above $94,000 on Monday. By Tuesday morning, BTC was hovering around $93,500, but the sudden drop took long traders offside.
This decline marked an intraday move of 2%, making Bitcoin the biggest mover among major assets during the pullback. Ether remained relatively stable, falling from $3,300 to $3,250, while Solana fell slightly from $140 to $138.
