Yesterday, total liquidations across the market had just shrunk to $277 million. Tonight, they’ve surged back to nearly $700 million—with CPI coming in hotter than expected, bulls didn’t even get a chance to catch their breath.
As of 1:16 a.m. Beijing time today, nearly $700 million had been liquidated across the market in the past 24 hours, including $570 million in long positions. In just the past four hours, $580 million was liquidated, including $484 million in long positions—with most of the damage concentrated in those four hours. The figure was still $636 million at midnight, but climbed to nearly $700 million just over an hour later.
By token, $252 million in $ETH positions were liquidated—more than the roughly $200 million in $BTC liquidations. Some 115,000 traders were liquidated, and the largest single liquidation exceeded $31 million.
In the market, BTC briefly fell to $72,700, its lowest level since August, while ETH hit a low of $2,010, just a breath away from the $2,000 mark. XRP fell below $1.05, and SOL hovered around $82. At the time of writing, BTC was around $73,706 and ETH around $2,055.
The trigger was U.S. October CPI, which rose 0.4% month over month, above expectations of 0.3%. After the release, BTC first fell nearly $1,000, then rebounded to $74,800 before being knocked back down. The second sell-off pushed it below $72,700.
How to read this: This wasn’t retail traders triggering a cascade of panic selling; it was leveraged longs being forcibly liquidated after CPI came in hotter than expected. There are three possible scenarios: if BTC holds $72,700 and gets back above $75,000, the liquidation wave may be over; if it falls below $72,700, the next levels to watch are $71,000 and the $70,000 mark; if ETH falls below $2,000, another wave of ETH long liquidations could follow. In all three scenarios, don’t chase the first move—wait for volume to confirm before acting.
Data as of: 2026-11-10 20:46 UTC
For informational purposes only; not investment advice.
As of 1:16 a.m. Beijing time today, nearly $700 million had been liquidated across the market in the past 24 hours, including $570 million in long positions. In just the past four hours, $580 million was liquidated, including $484 million in long positions—with most of the damage concentrated in those four hours. The figure was still $636 million at midnight, but climbed to nearly $700 million just over an hour later.
By token, $252 million in $ETH positions were liquidated—more than the roughly $200 million in $BTC liquidations. Some 115,000 traders were liquidated, and the largest single liquidation exceeded $31 million.
In the market, BTC briefly fell to $72,700, its lowest level since August, while ETH hit a low of $2,010, just a breath away from the $2,000 mark. XRP fell below $1.05, and SOL hovered around $82. At the time of writing, BTC was around $73,706 and ETH around $2,055.
The trigger was U.S. October CPI, which rose 0.4% month over month, above expectations of 0.3%. After the release, BTC first fell nearly $1,000, then rebounded to $74,800 before being knocked back down. The second sell-off pushed it below $72,700.
How to read this: This wasn’t retail traders triggering a cascade of panic selling; it was leveraged longs being forcibly liquidated after CPI came in hotter than expected. There are three possible scenarios: if BTC holds $72,700 and gets back above $75,000, the liquidation wave may be over; if it falls below $72,700, the next levels to watch are $71,000 and the $70,000 mark; if ETH falls below $2,000, another wave of ETH long liquidations could follow. In all three scenarios, don’t chase the first move—wait for volume to confirm before acting.
Data as of: 2026-11-10 20:46 UTC
For informational purposes only; not investment advice.
