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Bitcoin price fell below the $80,000 support level, hitting a nine-month low and wiping out traders’ positions worth $2.6 billion.
According to BeInCrypto data, a 6% decline took the token to $77,082 before seeing a slight rebound. This was the first time prices have reached this low since April 2025.
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Bitcoin falls below “fair value” for the first time in years
Boost the price movement Bitcoin is under critical metrics on the chain For the first time in years.
Glassnode data confirms that Bitcoin has fallen below its true market average – which currently stands at $80,500 – for the first time in 30 months. The last meeting occurred at the end of 2023, when the asset traded at only $ 29,000.
Historically, a breach of this level indicates a transition from an ascending cycle to an uptrend Medium-term bear market.
As a result, Bitcoin holders now face a depressing reality as the cost base of a short-term holder has grown to $95,400, while the average active investor is $87,300.
With the spot price well below these averages, the market now faces a significant accumulation of unrealized losses.
This technical failure triggered a violent deleveraging event in global derivatives exchanges.
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Coinglass data shows that the collapse led to… About $2.58 billion in traders’ positions were liquidated.
In particular, the devastation hit one side of the market with extreme prejudice, where “long” positions – bets on a price rebound – accounted for $2.42 billion of the total losses. This is the largest long liquidation event in the last three months.
Ethereum traders bore the brunt, taking $1.15 billion in liquidations, while the elimination of Bitcoin amounted to more than $772 million.
This massive “long squeeze” shows that participants overextended their positions to defend the $80,000 level, only to be crushed by accelerating downside momentum.
Cryptoquant CEO Ki Young Joo linked this to a significant decline Bitcoin buyers are running out of cash (BTC). He attributed this to the leader’s performance being “stable”, confirming that the new capital needed to sustain a bull market had simply disappeared.
According to Joe, while the first investors continue to profit from the shares acquired during the wave of 2025, there is no new institutional “blood” to absorb the supply.
“MSTR was a major driver of this demonstration. Unless Saylor significantly reduces its balance sheet, we will not see a -70% collapse like in previous cycles,” he added.
After this, he assumed that the market will be forced into a “broad sideways consolidation” until a new plan emerges.
