Bitcoin longs are getting flushed as the slide accelerates. About $93.69 million in crypto positions liquidated in the past hour, 95% of them longs, per CoinGlass.
BTC alone accounted for $72.34 million of the past hour’s liquidations, with ETH a distant second at $7.77 million. The 24-hour tally now sits at $402 million across 135,585 traders, longs taking $275 million of that and shorts $127 million.
The forced selling tracks bitcoin’s slide from intraday highs above $74,000 reached earlier Monday to roughly $72,250 by the late Asian session, a 2.1% drop on the day, per CoinDesk data.
The pullback accelerated through European hours and into U.S. trading after Strategy’s (MSTR) 8-K filing disclosed the company’s first publicized bitcoin sale, 32 coins for $2.5 million at an average price of $77,135, with proceeds earmarked for preferred stock distributions.
Bitcoin had already been on the back foot heading into Monday. Spot bitcoin ETFs in the U.S. logged a record 10-session outflow streak through Friday, with $2.97 billion drained between May 15 and May 29 per SoSoValue, and Brent crude’s bounce above $93 a barrel on stalled U.S.-Iran ceasefire talks pulled risk appetite from the broader market.