Bitcoin fell below $66,000 on Saturday morning UTC, pressuring leveraged traders holding bullish positions. By afternoon, the asset traded near $65,500, placing traders at risk of forced liquidations before any potential rebound.
Bitcoin ended Saturday near the bottom of its rolling 24-hour range of $63,278 to $69,052. Price data showed the asset down 6.5% over 24 hours, 15.8% over seven days, and 19.7% over 30 days, with $31.59 billion in trailing 24-hour trading volume.
Liquidation Events on Major Exchanges
Newhedge recorded multiple individual long-liquidation events on Saturday. On Binance, a $919,774 BTCUSDT long liquidation occurred at $65,976, followed by another worth $781,412 at $65,892. On Bybit, a $260,381 BTCUSDT long liquidation was recorded at $65,571. These represent individual forced closures rather than total market-wide liquidations.
Leveraged Position Risk
Leveraged long positions differ from simple Bitcoin holdings. When prices fall and collateral erodes below maintenance margin requirements, positions face forced closure through market orders. Once liquidated, a position cannot be automatically reopened by a subsequent price recovery, leaving traders unable to benefit from rebounds.
Forced liquidations can add selling pressure as positions are offloaded into the market. However, the data does not establish what initially triggered Saturday's selloff or quantify liquidations' precise impact on the price decline.
