I just saw BTC drop below $80K and it immediately triggered a huge futures liquidation.


Apparently, around $300 million worth of positions have been liquidated in the past few hours.
This happened as futures volume started to increase, so many traders got margin calls at once.

There's an interesting pattern — every time there's a spike in futures market volume, volatility becomes higher.
This time, the drop below $80K seems to be the trigger point for a domino effect of liquidations.
Data shows a significant accumulation of leveraged positions before this breakout.

The part to watch is the recovery later.
If the futures market remains bearish, there could be more pending liquidations.
But if there's a quick bounce, it might just be a shakeout to clear out weak hands in futures.
BTC0.56%
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