Bitcoin Faces $748M in Global Liquidations Amid 24-Hour Market Turmoil

The cryptocurrency market witnessed a dramatic shakeout, with global liquidations surging to $748 million over the past 24 hours, according to on-chain data analytics. Long positions bore the brunt, accounting for $596 million in forced closures, while short liquidations totaled $152 million.

Over 197,054 traders were wiped out worldwide, with the largest single liquidation—a $10.47 million BTC-USD position on Hyperliquid—highlighting the peril of leveraged bets during volatile swings. Bitcoin (BTC), the market bellwether, dipped approximately 1.6% to hover around $103,100, reflecting broader risk-off sentiment as ETF outflows and macroeconomic pressures weighed on sentiment.

What Triggered the Liquidation Cascade?

The wave of liquidations stemmed from a confluence of factors: profit-taking after BTC’s recent climb above $106,000, renewed uncertainty over U.S. interest rate paths following Fed comments on persistent services inflation, and technical breakdowns below key support levels like the $104,000 mark. On-chain metrics show a spike in exchange inflows—over 15,000 BTC net deposited in the last day—indicating leveraged holders unwinding positions amid fear of further downside. The RSI oscillator dipped to 40.07, signaling neutral-to-bearish momentum, while the Fear & Greed Index flashed 15 (Extreme Fear), the lowest since October’s correction. Hyperliquid’s massive BTC liquidation underscored the leverage trap, where clustered stops amplified the sell-off across perpetual futures markets.

• Long vs. Short Breakdown: Longs liquidated: $596M (80%); Shorts: $152M (20%).
• Trader Impact: 197,054 accounts affected; average loss ~$3,800 per trader.
• Largest Hit: $10.47M BTC-USD long on Hyperliquid.
• BTC-Specific: ~$320M of total liquidations tied to BTC positions.
• Exchange Inflows: 15K+ BTC deposited, signaling deleveraging.

Why the Liquidations Matter in Bitcoin’s 2025 Trends

This liquidation event underscores Bitcoin’s vulnerability to leveraged speculation in a maturing market, where $50 billion+ in ETF inflows since January have fueled retail overextension. Amid 2025’s regulatory thaw—highlighted by recent XRP ETF approvals and stablecoin acts—the purge clears weak hands, potentially setting the stage for a rebound if BTC holds above $100,000. However, with core PCE inflation at 2.6% and services pressures lingering, Fed rate cut expectations (two in 2026) could falter, prolonging downside risks. For DeFi users, it highlights the need for unleveraged strategies like spot holdings or yield-bearing wallets, as liquidations erode confidence in high-beta plays.

• Market Cap Effect: BTC dominance steady at 58%; total crypto market cap dipped 2.1% to $3.46T.
• ETF Context: Outflows of $250M in GBTC last week; IBIT inflows slowed to $500M.
• Fear Gauge: Extreme Fear (15) suggests capitulation; historical rebounds follow.
• Institutional Angle: Cypherpunk’s ZEC buys contrast BTC deleveraging.
• Broader Crypto: Altcoins like ETH down 1.8%; memecoins hit harder.

How Liquidations Impact BTC Trading Dynamics

Liquidations occur when leveraged positions fall below maintenance margins, triggering automated sales that cascade through thin order books. In BTC’s case, the $104,000 support breach liquidated clustered longs opened during the $126,000 ATH rally in October, flooding the market with sell pressure. Volume rose 3.77% to $59.44 billion in 24 hours, but net exchange flows turned negative, hinting at accumulation by whales. Technicals show MACD flattening with bullish divergence, and EMAs suggest support at $106,060—a potential rebound zone if volume flips positive.

• Cascade Mechanics: Stops below $104K triggered $320M BTC longs.
• Volume Spike: 3.77% increase; 47% green days in last 30.
• RSI Reading: 40.07 (neutral); below 30 signals oversold.
• On-Chain Flows: -15K BTC net (outflows dominate post-liquidation).
• Recovery Indicators: Whale wallets up 2%; ETF inflows resuming.

Real-World Applications and BTC Outlook Post-Liquidations

Post-liquidation environments often favor spot accumulation: institutions like MicroStrategy could deploy during dips, using BTC for treasury diversification with 3-5 second settlements. For example, a corporate treasurer might convert fiat to BTC via compliant custodians, hedging inflation via self-custody wallets. Looking to late 2025, analysts project BTC at $114,500 by month-end if ETF inflows stabilize, with Q4 targets of $120,000+ amid halving echoes and regulatory clarity. However, persistent services inflation could cap gains, urging diversified strategies.

• Treasury Use: BTC as inflation hedge; $1,200 average tariff cost offset.
• DeFi Play: Stake BTC wrappers for 4-6% yields post-purge.
• Forecast Range: $101,835–$104,289 today; $114,500 November end.
• Risk Horizon: Watch $100K support; rebound above $106K.
• Trend Projection: 13.79% rise to $117,958 by December 13.

In summary, Bitcoin’s $748 million liquidation surge on November 14, 2025—dominated by $596M in longs—signals a healthy deleveraging amid 1.6% price dips to $103,100, clearing paths for potential rebounds. This reflects 2025’s leveraged excesses, emphasizing spot strategies over futures. Monitor ETF flows, RSI for oversold signals, and $100K support to navigate the next leg in BTC’s cycle.