Bitcoin plunges to $82,000, a liquidation wave of $1.95 billion sweeps across the entire network

Market Crashes Instantly, Nearly 400,000 Traders Lose Their Entire Capital

The cryptocurrency market experienced a sharp decline on “Black Friday,” with Bitcoin dropping straight down within 24 hours, hitting a low of $81,600, marking the first time since April this year that it fell below the $82,000 level. This sell-off not only wiped out the year’s gains but also pushed the market back to November of last year, making it the most severe monthly decline since the 2022 crypto winter.

According to CoinGlass statistics, the total liquidation in the past 24 hours reached $1.95 billion, with long positions liquidated for $1.8 billion, causing approximately 396,000 traders to be wiped out instantly. Bitcoin’s liquidation alone amounted to $983 million, Ethereum’s to $411 million, leading to a widespread wave of forced liquidations across the market. The most shocking single incident occurred on a decentralized exchange, where a trader’s Bitcoin position evaporated in an instant, totaling $37 million.

Mainstream Coins Plunge Collectively, Falling 20-35%

This storm quickly spread across the entire market. Ethereum lost its $2,700 support level, with a 7-day decline of 16.5%; Solana plummeted over 11% within 24 hours; Ripple, BNB, and Cardano fell between 9.8% and 13%. Compared to their November highs, mainstream tokens have retraced significantly by 20% to 35%, with small-cap competitive coins experiencing even sharper declines.

Macroeconomic Environment Worsens, Funds Shift to Safe Havens

Behind Bitcoin’s plunge, global financial markets are also bubbling beneath the surface. US stocks posted their worst performance in seven months this week, with tech stocks under continuous pressure. Concerns over overvaluation of AI stocks and unclear prospects for Federal Reserve rate cuts have severely damaged investor confidence. The MSCI Global Index fell over 3% this week, while US Treasuries attracted buying against the trend, signaling typical “flight-to-safety” behavior.

The capital momentum in the crypto market is accelerating its deterioration. The US Bitcoin spot ETF saw a shocking $900 million net outflow on Thursday, marking the second-largest single-day outflow since its listing in 2024. Meanwhile, open interest in perpetual contracts plummeted 35% from its October peak of $94 billion, indicating a complete drying up of market liquidity.

Retail investor confidence has also collapsed dramatically. The crypto fear and greed index dropped to 11, entering the “extreme fear” zone, the lowest level since late 2022. Historical experience suggests that extreme fear often signals a market bottom, but with Bitcoin breaking below multi-month support levels and institutional funds withdrawing significantly, there are no clear signs of stabilization at the moment.

Disclaimer: This article is for market information only. All content and opinions are for reference purposes and do not constitute investment advice. Investors should make their own decisions and trades; the author bears no responsibility for trading losses.