Bitcoin fell below $80,000 on Saturday, the second time in roughly ten days, as a broader crypto market selloff drove liquidations higher.
The largest cryptocurrency reached a nine-day low of $79,750, where it found some support, at least for now. The move came after bitcoin had neared $85,000 on Wednesday for the first time in about two weeks, a rally that soon lost momentum as bearish pressure returned.
In the following 24 to 36 hours, bitcoin dropped to $81,000 but held between that level and $82,000 on Friday. Bearish momentum returned on Saturday, pushing the asset back below $80,000.
Altcoins follow bitcoin lower
Altcoins moved lower alongside bitcoin. Ether fell below $2,350, moving further from $2,400, while BNB traded under $730. XRP confirmed a drop below $1.30, and SOL slipped below $100 for the first time in a while.
ZEC fell by 7.5%, while NEAR dropped more than 10%, according to the source data.
Liquidations climb
CoinGlass data showed $670 million in liquidated positions over the past day. That included $232 million in the past few hours and $220 million from long positions.
More than 213,000 traders were liquidated in the past day, the data showed. The single-largest liquidated position occurred on Binance and was worth almost $12 million.
