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Bitcoin drops below $72K, triggering $125M in forced long liquidations in 20 minutes

Market News
12 Nov 2026, 16:50 WIB
Crypto Briefing
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Bearish
Bitcoin drops below $72K, triggering $125M in forced long liquidations in 20 minutes

Bitcoin fell below the key $72,000 level, causing crypto exchanges to liquidate $125 million in leveraged long positions within 20 minutes. This rapid forced selling pushed the price down further, as each liquidation triggered more sell orders. The $72,000-$73,000 range is a critical support zone with over $1 billion in long bets clustered just below it, making it a volatile area for traders. Despite the sell-off, total futures open interest remains above $50 billion, indicating that significant leverage is still in play and more sudden price moves are likely. Investors should watch whether Bitcoin can reclaim this range and monitor open interest for signs of leverage being flushed out.

Bitcoin trades at Rp1.299.760.964 on Pluang as of Nov 12, 2026 22:02 WIB, down 2.28% in the last day. Market cap stands at Rp26.634,83 trillion with a 24-hour volume of Rp436,02 trillion. Despite recent volatility, most Pluang users hold Bitcoin for about 113 days, with 72% currently buying rather than selling.

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