Crypto liquidations reach $500m in an hour as Bitcoin drops below $69,000
Traders lost $500 million in margin positions within 60 minutes on 13 November as Bitcoin, Ethereum, XRP, and Solana fell sharply.
Key takeaways
- 1$500 million in crypto positions were liquidated within one hour on 13 November.
- 2Bitcoin fell below $69,000 while Ethereum dropped under $1,950 during the sell-off.
- 3XRP dropped below $1.01 and Solana fell under $80 as margin positions unwound.
Traders lost $500 million in margin crypto positions within a single hour on 13 November as a sudden market decline triggered widespread forced liquidations across digital asset trading platforms.
The rapid price sell-off pushed several of the largest digital assets below key price thresholds in quick succession. Bitcoin fell below $69,000, while Ethereum dropped under $1,950. XRP slid below $1.01 and Solana broke below $80 as long positions were automatically wiped out across derivative exchanges.
The sudden liquidity flush follows an earlier sell-off on 12 November, when Bitcoin fell below $72,000 and triggered $125 million in long position liquidations within 20 minutes. Derivatives platforms automatically liquidate open margin trades when an asset price moves sharply against traders and their account balance falls below required maintenance levels. These forced closures act as automated market sell orders, which can accelerate downward momentum across connected order books.
This $500 million liquidation wave shows how quickly accumulated margin debt can unwind across crypto derivatives during sudden market shocks. Traders and market analysts will monitor order book depth, spot market buying volume, and margin funding rates across major trading venues to see whether major digital assets can establish price support or remain vulnerable to further forced liquidations.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.