Bitcoin’s Downfall: $190M in Crypto Longs Suffer

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The sun set on the crypto dream as a horde of longs found themselves unmoored, their bets as fragile as a moth’s wing in a hurricane. The Bitcoin price, once a gilded promise, now slumped beneath the $66,000 mark, leaving traders to ponder if they’d been sold a bill of goods or simply outwitted by the market’s cruel whims.

Crypto Market Has Faced $267 Million In Liquidations Over The Past Day

Behold, the grim reaper of finance arrived in the form of CoinGlass, tallying a massacre of contracts. Liquidations, that cruel dance of forced exits, left pockets empty and hearts heavier than a lead balloon. A trader’s worst nightmare: a loss so steep, even the platform’s algorithms wept.

The volatility of crypto, a fickle lover, paired with leverage’s siren song, ensured the carnage. One moment, a trader’s portfolio bloomed like a rose; the next, it withered under the scorch of a 3% drop. The market, ever the trickster, laughed as wallets emptied.

Amid the chaos, a table stood like a grim ledger, chronicling the carnage. Numbers, cold and unyielding, whispered of $268 million lost in a day-a fortune squandered faster than a gambler’s last chip.

Bullish bets, once a roar of confidence, now lay in ruins. The market’s pendulum swung, and the longs, like fools, followed. Bitcoin’s descent below $66,000 was less a fall and more a slap across the face of hubris.

ETH, the upstart, claimed the throne of carnage, its price swinging like a pendulum of despair. BTC, the old guard, lingered nearby, its $86 million in contracts a shadow of its former glory. A tale of two coins, both bleeding but one with a sharper edge.

In a twist of irony, Bitcoin ETFs, once a beacon of hope, now flirt with net inflows. A fleeting ray of sunshine in a storm of red. Yet, the question lingers: will this be a dawn or merely a mirage?

BTC Price

Bitcoin, that fickle flame, now flickers at $65,600. A 3% plunge, a whisper of doom. The market’s heartbeat, once a drumroll of triumph, now a morose dirge. Traders, like weary travelers, wonder if the road ahead is paved with gold-or just more dust.

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2026-02-28 12:14