Journalist
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Key Takeaways
How far has Bitcoin fallen from recent highs?
Bitcoin fell to $97,031 on November 14, breaking below the critical $100,000 level and marking a 23% decline from October’s all-time high of $126,000.
What is the damage in case of liquidations?
The collapse caused $448.48 million in long-term liquidations on major exchanges.
Bitcoin broke the psychologically critical $100,000 support level on Friday, plummeting to $97,031 and causing a bloodbath in leveraged positions, wiping out nearly half a billion dollars in long bets.
The flagship cryptocurrency plummeted 2.59% that day, continuing a brutal decline that started from October’s all-time high of $126,000.
Bitcoin is now trading at levels last seen in early May 2025, wiping out five months of gains in just over a month.
Bitcoin Liquidation Massacre
Leverage traders paid the price when $448.48 million in long positions on major exchanges were liquidated, according to Coin glass data.
Hyperliquid suffered with $177.098 million in long-term liquidations, while Bybit recorded $134.365 million and Binance saw $20.92 million evaporate.
Source: Coinglass
The lopsided liquidation data, with the longs outnumbering the shorts twelve to one, shows how one-sided the positioning had become.
Traders betting on a continuation to new highs found themselves stuck as support levels crumbled.
OKX, Gate.io, HTX and smaller exchanges all reported significant long-term liquidations, painting a picture of systemic overleverage in the crypto derivatives market.
Technical malfunction
The chart shows Bitcoin breaking below its 20-day moving average near $106,000. The collapse accelerated as the $100,000 gave way, and no significant support was visible until the $94,000-$95,000 zone.
Source: TradingView
Volume spiked during the sell-off, confirming a true distribution rather than a liquidity grab. The speed indicates forced selling from margin calls.
What’s next?
Despite the sell-off, Bitcoin continues to rise 14-16% this year, having started 2025 at around $102,000 before reaching $126,000 in October.
The crucial question is whether it is a healthy reset or a deeper correction? The $94,000-$95,000 zone represents important support.
A hold keeps bulls alive. A breakout risks a new liquidation cascade targeting the high $80,000s.