Bitcoin Drops Below $88,000 As $857 Million In Long Positions Are Liquidated In 24 Hours

Bitcoin saw a steep pullback this week, wiping out its 2026 gains as the price fell under the $88,000 mark on major exchanges. Data cited from CoinGlass shows that in the last 24 hours, 167,513 traders were liquidated and total positions worth $857 million were closed, mostly from leveraged longs. The sell-off unfolded alongside heightened tariff threats, bond market stress and a broader shift toward safe-haven assets.