Bitcoin News Today: Bitcoin's Hourly Long Liquidations Hit $40M; Short Positions See Gains

Recent data reveals that Bitcoin's on-chain whale long positions have suffered significant losses, with unrealized losses soaring by 870%, while short positions have become consistently profitable. The digital asset's value has dropped beneath $90,000, wiping out all gains made in 2025 and sparking a wave of liquidations. This decline has

in terms of percentage, but has occurred in nearly half the duration.

This latest decline has driven

under its 2025 realized price of $103,227, resulting in an average loss of 13% for holders. This figure, which tracks the average acquisition cost of coins throughout the year, is a key gauge of investor sentiment. During the April drop to $76,000, , so the market price never fell below it—a pattern that has not held this time.

The scale of liquidations has been intense.

within just one hour, with total long liquidations surpassing $77 million over a four-hour span. The majority of these losses were in Bitcoin, followed by and smaller cryptocurrencies such as and . The downturn has also sparked broader market anxiety, with of its value in a matter of weeks, erasing more than $600 billion from the total market cap.

Experts attribute the selloff to several causes. The delayed liquidity release from the Treasury General Account following the shutdown has intensified downward momentum, while political developments—such as Donald Trump's suggested $2,000 tariff dividend for mid-2026—have added to market uncertainty. Some investors believe that possible Federal Reserve rate cuts and liquidity support could help steady prices, though others caution that volatility may persist

.

Technical analysis points to a crucial stage for Bitcoin. Immediate support is identified at $94,100, with stronger backing at $93,500 (the year's opening value) and the $89,000–$91,000 zone. Should the price fall below $85,000, it would indicate a reversal of the current trend, undermining bullish recovery prospects. On the other hand, if buyers are able to absorb selling pressure at these levels, a rally toward $100,000 could be possible, although

will be a significant challenge.

With volatility metrics signaling heightened fear, the market is now extremely risky for leveraged trades. Analysts advise caution with leverage, as ongoing price swings of 4–5% pose a threat to over-leveraged long positions. Meanwhile, short-term traders are focusing on

, due to the convergence of historical support and current on-chain trends.