Aug 2, 2025
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Bitcoin Drops Below $115,000, Liquidating $760 Million in Positions
Bitcoin (BTC) briefly dropped below $115,000, reaching a low of $114,116, prompting panic selling across exchanges such as Binance. Key metrics, including open interest and net taker volume, highlighted the intensity of the sell-off.
Key Points
- Open interest on Binance dropped from $14 billion to under $13.5 billion.
- $760 million in liquidations occurred within 24 hours, affecting around 183,514 traders.
- Net taker volume on Binance fell to -$160 million, indicating significant selling pressure.
- This bearish sentiment may lead to a short-term rebound if selling pressure exhausts.
- Increasing share of new investors among BTC holders could indicate overheated market conditions.
- Exchange reserves are rising, contributing to potential selling pressure.
- Long-term holders are selling significant volumes, suggesting rally exhaustion.
- BTC needs to maintain key support at $110,000 to remain aligned with a year-end target of $180,000.
- Current trading price for Bitcoin is approximately $115,310, down 2.1% over the past 24 hours.
