Bitcoin plunged below the $65,000 level, triggering approximately $190 million in crypto market liquidations within just 15 minutes, according to a flash alert from market watchdog WatcherGuru.
BTC Breaks $65K Support: $190M Wiped in Minutes
The rapid sell-off saw Bitcoin lose the key $65,000 support zone, setting off a cascade of forced position closures across the derivatives market. WatcherGuru flagged the event in a Telegram alert, reporting that $190 million in liquidations hit the broader crypto market in the span of 15 minutes.
The speed of the move suggests a leveraged long squeeze, where cascading stop-losses and margin calls amplified the initial drop. Such liquidation cascades are common when Bitcoin breaches a major round-number support level where large clusters of leveraged positions sit.
This is not the first sharp drawdown Bitcoin has experienced in recent months. The leading cryptocurrency has faced repeated sell pressure amid geopolitical tensions, and miners have been under growing strain with 15 to 20 percent of mining operations reportedly in the red.
Key Levels Traders Are Watching Next
With the $65,000 level now broken, traders are likely focused on whether Bitcoin can reclaim that zone or whether further downside toward the $63,000 to $64,000 range is in play. A failure to recover could open the door to deeper selling if additional leveraged positions are stacked at lower levels.
The $190 million liquidation figure covers the entire crypto market, not just Bitcoin. Altcoins typically suffer steeper percentage declines during BTC-led flush events, as liquidity thins across the board. The broader crypto market, including tokens like Bitcoin Cash which has seen its own recent whale-driven sell-offs, is likely feeling the pressure.
Whether this proves to be a brief leverage flush or the start of a deeper correction will depend on how price action develops around the current range in the coming hours.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.
