Bitcoin liquidations hit $148M as price spikes to $90K before retreating

Key Takeaways

• Bitcoin experienced $148 million in liquidations within an hour during a sudden price spike.
• Both long and short positions were affected as Bitcoin surged to $90,000 before retreating.

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Bitcoin briefly broke above $90,000 on Wednesday morning before sharply reversing to $87,000 in a single candle, erasing all gains for the day.

The sudden drop triggered $148 million in liquidations over the past hour, including $109 million in short positions and $38 million in longs.

The move rattled broader market sentiment, with the total crypto market down 1% as most major tokens followed Bitcoin’s decline.