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Bitcoin Drops Below $113,000 as Crypto Markets Unwind Leverage

A sudden sell-off during Asian trading hours sparked roughly $1.7 billion in forced liquidations across 400,000 accounts.

Overview

  • Total crypto market capitalization fell about $77 billion to roughly $3.91 trillion, extending losses from the weekend.
  • Bitcoin repeatedly failed to clear the $116,000–$118,000 resistance band, and traders now watch the $114,000–$112,000 area as key support.
  • Coinglass data show around $1.7 billion in positions liquidated over 24 hours, with Ethereum incurring the largest share and Bitcoin close behind.
  • Ethereum slipped to the low-$4,000s after briefly dipping below $4,100, and several analysts caution that a break of $4,000 could open a move toward $3,700–$3,800.
  • U.S. spot Bitcoin ETFs hold more than 1.3 million BTC, tightening supply even as on-chain gauges such as SOPR and short-term holder realized price point to waning near-term profitability.