Bitcoin crypto cracked below $116,000 on Friday, and the market followed it straight into the Earth’s crust. We’re in the underworld boys, and sometime “gals.”
More than $731 million vanished in liquidations, with long positions making up the bulk of the bloodbath. CoinGlass data shows $585 million flushed in hours.
“This dump is a pure leverage flush.” – @AshCrypto, X
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itself accounted for $140.06 million of those liquidations, falling 2.63% to trade around $115,356.Ethereum followed closely, losing 1.33% to trade near $3,598, with $104.76 million in liquidated long bets.
Among the top altcoins, Dogecoin, SEI, SUI, and XRP were hit the hardest, dropping 7% to 20%. All told, 213,729 traders were liquidated in the last 24 hours. Meanwhile, a new crypto presale is about to rocket when the market turns around. Here’s where this crash heads next:
Why This Was a Leverage Flush and Not a Bear Market Shift
While the numbers look brutal, 99Bitcoins analysts believe this isn’t the start of a prolonged downturn. Many see it as a classic liquidity flush driven by over-leveraged longs, especially in altcoins after Ethereum’s recent rally.
“Many people longed for Alts after they saw ETH pumping hard, so market makers dumped and liquidated the late longs.” – @AshCrypto, X
The evidence supports that this is only a flush out; long-short ratios from CoinGlass show a 51.11% short bias across Bitcoin perpetual futures. Major exchanges like Binance (51.33%) and Bybit (52.74%) show clear favor for shorts in the near-term.
Why Crypto Sentiment Remains Strong
Despite the $700 million being flushed, crypto’s Fear & Greed Index barely moved, sitting at 70, still greedy. Others like Michael Novogratz, Galaxy Digital CEO, say altcoin season is still on and “Ether will hit $4,000 at least.”
While many are hedging against a swift rebound that could liquidate $3.07 billion in short positions, the volatility could also trigger short squeezes and rapid reversals.
The bull run isn’t over; this is just another good time to buy the tip.
Buy The Dip Winner: Bitcoin Hyper Is Best New Presale
If you’re looking for a potential winner to buy the dip, Bitcoin HYPER, a Solana-based Bitcoin scaling play, just blew past $4.5 million in presale. It was literally at $3 million last week!
The pitch for $HYPER is simple: combine Solana speed with Bitcoin security. Bitcoin Hyper uses a zero-knowledge bridge to lock BTC, spits out a wrapped version, and allows investors to stake, swap, launch tokens, and build apps.
At $0.012375, it’s still early. But that price ticks up in under seven hours.
The HYPER presale is entering its final stretch at the current price. To lock in this tier, head to the Bitcoin Hyper site, which has payment options via ETH, USDT, BNB, or card.
For updates and chaos, the HYPER crowd is live on Telegram and X.
Join the Utility Wave with BTC Hyper Now
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Key Takeaways
- BTC crypto cracked below $116,000 on Friday, and the market followed it straight into the Earth’s crust.
- Bitcoin Hyper offers speed, low fees, and actual usability through a Layer 2 system now in presale.
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