Bitcoin▼ Bearish● Important

Bitcoin, ether and XRP drop wipes out $1.5B in leveraged bets, mostly longs

TradingGain Newsroom·1h ago·30 Oct 2026, 06:22 UTC

A sharp selloff in bitcoin, ether and XRP forced about $1.5 billion of leveraged crypto positions to close. Most of those closed trades were bets on prices rising, and a rebound has since started to hurt traders betting on falling prices.

BTCAt the time of writing, Bitcoin traded at $78,668 (-1.8% in 24h).Live price →

Why it matters

Most forced closures came from bets that prices would go up, so long traders took the heaviest losses.
Binance handled almost half of the total forced closures, making it a key venue to watch.
The rebound that has started is catching short sellers, which can add pressure on those positions.

What to watch next

Watch whether the rebound holds above recent lows or fades, since that will show whether leveraged traders are rebuilding positions.

BTCLive chartOpen full chart →

This brief is written by TradingGain from public reporting by CoinDesk.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.