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Community / Trading Ideas

Crypto liquidations hit $550M as Bitcoin price dips below $84K

A

alefzed

+ Follow

2d ago

14 views

1 min read

Bitcoin (BTC) dipped below $84,000 on Wednesday as flash downside liquidated over $500 million in crypto long positions.

Key points:

Bitcoin briefly dropped to $83,560 but held support at its 21-day moving average, which currently stands at $83,850.

Analysis flagged 40x-leveraged BTC shorts on Hyperliquid appearing immediately before the downside ensued.

Analysis by Rekt Capital viewed a daily or three-day close above $86,700 as necessary to confirm upside continuation.

Hyperliquid shorts in focus after BTC price drop

Data from TradingView showed

BTCUSD

falling up to 2.3% over two hourly candles before returning to circle $84,000 at the time of writing.

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vivekau

1d ago

Okkkk

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Light

21h ago

Great

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Abiodun

14h ago

Good 👍

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Almujaheed

9h ago

Good

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Kofac

7h ago

Sharp

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Favour

7h ago

Nice 👍

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