Crypto Longs Liquidated for $404 Million as Bitcoin Dips Below $80,000

crypto longs liquidated — Crypto traders holding long positions suffered $404 million in liquidations within four hours as Bitcoin briefly fell below the $80,000 level, according to data from Coinglass.

The sharp downturn triggered a wave of forced position closures, with the majority of the losses—over $360 million—coming from long bets that the market would continue to rise. Bitcoin’s price briefly touched a low of $79,600 before recovering some ground.

The sell-off coincided with a shift in sentiment for U.S. spot Bitcoin ETFs, which saw net outflows totaling $773 million on Thursday and Friday. This ended a three-day streak of net inflows into the funds, as reported by data firm SoSoValue.

The combined pressure from ETF outflows and leveraged long liquidations contributed to heightened volatility across the crypto market, with several major altcoins also posting significant losses during the period.