Bitcoin Holds Above $115K Amid $630M in Crypto Liquidations
Bitcoin (BTC) slipped to $115,200 on Thursday, paring recent gains but holding steady relative to altcoins as crypto markets absorbed over $630 million in leveraged position liquidations.
The bulk of the liquidations — over $580 million — came from long positions, triggered by a sharp intraday drop. Bitcoin’s resilience during the move lifted its market dominance, even as top altcoins faced steeper losses.
Ether (ETH) retreated to $3,687, while XRP dipped below $3.03. Solana (SOL) fell to $170, and BNB eased to $780 following a strong run past $855 last week. The largest single liquidation recorded was a $13.7 million ETH long on Binance, according to Coinglass.
Liquidations occur when leveraged positions are automatically closed due to margin shortfalls. Such events can amplify price volatility, particularly when large clusters of positions are forced out at once.
Traders view liquidation spikes — especially when concentrated on one side — as signs of overheated positioning and potential local reversals as the market resets.
Risk-on altcoins in the Solana ecosystem saw outsized losses. Fartcoin (FART) dropped 14% to test its 100-day EMA, Pump.fun (PUMP) continued its slide, and Jupiter (JUP) broke below its 200-day support.
“These sharp corrections are more about near-term momentum fading than a structural shift in market sentiment,” said Ryan Lee, Chief Analyst at Bitget. “We’re seeing profit-taking in high-volatility tokens, not a broad breakdown.”
Lee added that Bitcoin’s ability to hold the $115,000 level — supported by ETF flows and a stable macro backdrop — suggests the current pullback is likely contained rather than the start of a deeper downturn.
