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Breaking News: Bitcoin Price Crashes Below $73,000, Hitting Lowest Level Since 2024
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Breaking News: Bitcoin Price Crashes Below $73,000, Hitting Lowest Level Since 2024

Bitcoin, Ethereum Plunge Triggers Near-$600 Million Crypto Long Flush

Keshav Verma
Keshav Verma
Last Updated: December 17, 2025 5:00 am
2 mins read
Bitcoin & Ethereum

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Bitcoin, Ethereum, and other digital assets have witnessed a sharp retrace during the last 24 hours, which has resulted in a long squeeze on derivatives exchanges.

Crypto Long Liquidations Have Neared $600 Million During The Past Day

According to data from CoinGlass, the latest sharp price action in the cryptocurrency market has accompanied a huge amount of liquidations over at the derivatives side of the sector.

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“Liquidation” here naturally refers to the forceful closure that any open contract has to undergo after it has amassed losses of a certain degree. For long investors, this happens when the asset’s price drops, while for shorts, liquidation occurs after a surge.

How much the cryptocurrency will have to move in one direction to liquidate a specific position comes down to the percentage threshold defined by the platform and the amount of leverage that the trader has opted for. During sharp price swings, positions with high amounts of leverage attached are the first to go.

Bitcoin and other assets have faced some notable volatility during the past day, which has once again caught out traders on the derivatives market. As the table below shows, liquidations have crossed $650 million over the last 24 hours.

Bitcoin Liquidations
Looks like long liquidations have dominated in this window | Source: CoinGlass

About $584 million of these liquidations involved long positions alone. That’s equivalent to almost 90% of the total, showcasing how disproportionate the price volatility has been during this period.

In terms of the individual symbols, the largest contributor to the liquidation event has been Ethereum, not Bitcoin, as is often the case.

Bitcoin Vs Ethereum Vs Other Cryptos
How the liquidations break down between the different assets | Source: CoinGlass

With over $235 million in contracts involved, Ethereum has notably outpaced Bitcoin, which has witnessed $186 million in liquidations. ETH facing more liquidations is likely due to the fact that its price drawdown has been stronger during the past day.

Out of the altcoins, Solana has come out on top with $37 million in positions flushed, ahead of XRP ($16 million) and Dogecoin ($12 million). Interestingly, SOL has outperformed the two despite its losses being more limited.

In some other news, the latest Bitcoin decline has meant that its price has fallen back under a key on-chain price level, as the chart shared by analytics firm Glassnode shows.

Bitcoin Price Models
The various on-chain pricing models related to BTC | Source: Glassnode on X

The level in question is the Active Realized Price, corresponding to the cost basis of the active participants on the Bitcoin network. Currently, it’s located at $87,900, which is above the cryptocurrency’s spot price.

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Thus, it would appear that the latest dip has put the active investors as a whole into a state of net unrealized loss.

Bitcoin Price

At the time of writing, Bitcoin is floating around $87,200, down more than 3% over the last seven days.

Bitcoin Price Chart
The price of the coin seems to have plunged over the last few days | Source: BTCUSDT on TradingView
Featured image from Dall-E, Glassnode.com, CoinGlass.com, chart from TradingView.com
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Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to.

In terms of official educational qualifications, Keshav holds a bachelor’s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions.

Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true.

Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn’t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment..

Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form.

Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new.

As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money.

Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn’t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs.

Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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