More than $1 billion in crypto positions were liquidated in the past 24 hours as a broad sell-off sent Bitcoin from above $109,000 toward $105,000, with intraday prints near $104,700 on some venues.

CoinGlass figures show roughly $717.7 million in perpetual futures liquidations alone, led by $372 million on BTC and $252 million on Ethereum (ETH). In all, almost 290,000 traders were “rekt” as cascading margin calls rippled across exchanges, amplifying volatility and slippage in thin order books.

The move follows a failed attempt by BTC to reclaim the $116,000–$123,000 resistance zone earlier in the week. Technicians now flag $104,000 as first defense and $100,000 as the next major support, while a push back above $112,000–$114,000 could stabilize price action.

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