Crypto Liquidations Top $974M as Bitcoin Reclaims $80K

Crypto liquidations reached $974.80 million in 24 hours as Bitcoin climbed 4.64% and moved back above $80,000, according to BeInCrypto. Short positions accounted for the larger share of the reported total. The outlet described a short squeeze, while noting that forced buying alone may not be enough to sustain Bitcoin’s advance.

What happened in the crypto liquidations surge

BeInCrypto published its figures at 01:55 UTC on November 5, citing Coinglass liquidation data and its own market feed. The total covered a rolling 24-hour period. Short positions made up $575.48 million of the liquidations, while long positions accounted for $399.32 million.

Bitcoin led all assets with $396.04 million in liquidations. Shorts represented 78.2% of Bitcoin’s figure, a larger share than the 59% recorded across the market. Ethereum had $241.79 million in liquidations, with shorts accounting for 56.5%. Coinglass counted 128,911 liquidated traders over the period, according to BeInCrypto.

The largest single order reported was a $38 million ETH-USDT long on HTX. Binance accounted for 39% of liquidations, the largest share for any exchange. These are the exchange and position figures reported for the same 24-hour window; they do not, on their own, establish why individual positions were liquidated.

BeInCrypto also reported that the short squeeze coincided with a decline in US crude oil after Democrats won control of Congress. The report describes events occurring at the same time. The evidence provided does not establish that the political result or the oil price move caused Bitcoin’s rebound.

Background and context for crypto liquidations

BeInCrypto described the market move as a short squeeze and noted that forced buying may have contributed to the rally. Its report cautioned that this source of buying could be spent, leaving a sustained move above $80,000 dependent on fresh spot demand. That is the outlet’s analysis, not confirmation that the price will hold or that new demand will appear.

Bitcoin had struggled to hold $80,000 since late October, according to BeInCrypto. The outlet reported that BTC fell below the level on October 24 as more than $200 million in crypto leverage unwound within an hour, with long positions making up most of that liquidation event. Bitcoin traded around $80,800 on October 28, then fell below $78,000 the following day amid concerns about the Binance hack.

On Wednesday, Bitcoin dropped to about $75,700 before recovering above $78,300. BeInCrypto said traders placed bullish options bets before that recovery. The report also said Binance had reopened withdrawals days after a record $6.3 billion hack. Binance’s reported 39% share of liquidations is a separate figure; the data does not show that the hack caused the exchange’s liquidations.

Market reaction and the $80,000 test

BeInCrypto’s report at 01:55 UTC put Bitcoin at $80,480, up 4.64% over 24 hours. A CoinGecko snapshot at 06:13 UTC on November 5 showed BTC at $80,434, up 3.5% over 24 hours. Ethereum was $2,422.80, up 5.9%, in that same CoinGecko snapshot. These readings come from different providers and times.

CoinGecko’s data showed Bitcoin down 6.08% over 30 days and 36.2% below its $126,080 all-time high, recorded on October 6, 2025. Those figures put the latest 24-hour rise alongside a longer decline from the recorded peak. The Crypto Fear & Greed Index stood at 50, classified as Neutral, on November 5, according to Alternative.me. See CoinGecko’s Bitcoin market data for its market page.

For crypto liquidations, the distinction between forced buying and fresh demand is central to BeInCrypto’s analysis. The outlet said a sustained hold above $80,000 would depend on spot buyers after the short squeeze runs its course. It also said a fall back below that level would echo late October, when long positions made up most of the liquidations. These are possible scenarios, not established outcomes.

What to watch next

The reported $80,000 level is the focus of BeInCrypto’s analysis. The outlet’s view is that fresh spot demand would be needed to support a sustained move above it once forced short covering has run its course. The available figures do not establish whether that demand will emerge or whether Bitcoin will remain above the level.

Liquidation data can also be compared with the earlier October event described in the report. On October 24, long positions made up most of the liquidations as Bitcoin fell below $80,000. In the latest 24-hour period, shorts represented 78.2% of Bitcoin liquidations. Those figures describe different periods and market moves; they do not determine what happens next. The report also notes Binance’s reopening of withdrawals after the hack, but does not link the hack to the liquidation totals.

FAQ

What do crypto liquidations mean?

In this report, liquidations are the positions counted as liquidated during the stated 24-hour period. BeInCrypto cited Coinglass data for the market-wide total and the breakdown by asset and position type.

Why did Bitcoin rise while shorts were liquidated?

BeInCrypto described the move as a short squeeze and said forced buying may have contributed to the rally. Its report counted $396.04 million in Bitcoin liquidations, of which 78.2% came from short positions. The reported figures show what was liquidated, but do not establish the exact contribution of those closures to the price move.

Can Bitcoin hold above $80,000?

The supplied data cannot establish that. BeInCrypto said a sustained move above the level would depend on fresh spot demand after forced short covering. Bitcoin’s price can move in either direction, and the report’s scenarios are not certain outcomes.

Sources

• Nearly $1 Billion in Crypto Liquidations Hit as Bitcoin Jumps 4.6% (BeInCrypto)

This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrencies are highly volatile; always do your own research before investing.