The market saw a major forced liquidations event: according to the Binance “Square” post, nearly 390,000 traders were liquidated in short order as Bitcoin plunged to ~US$82 K.
Binance
+2
Binance
+2
It’s estimated ~US$4.8 billion in long positions were wiped out over the 20-21 Nov timeframe.
Binance
+2
Binance
+2
In a 4-hour window, liquidations of ~US$100 million were recorded: ~US$58 m longs and ~US$42 m shorts.
Binance
⚠️ Price action & support breaks
Ethereum (ETH) lost its key support at ~US$2,800, with heavy liquidations and major outflows from Binance wallets also noted.
Coinpaper
+1
Bitcoin dropped below ~US$85,000 and approached ~US$82,000 causing a wave of selling, especially leveraged longs.
Binance
+2
Whale Alert
+2
✅ Implications for traders
If you hold leveraged long positions, this flush is a reminder that support levels broke and many leveraged trades were closed out — risk of further downside until new base formed.
If you’re looking for entries, pay attention to where the liquidation clusters have cleared — large leverage has been reset, which may reduce short-term blow-offs but also means less “easy squeeze” upside.
Risk management is critical: many traders were caught off guard — stop-losses, reduce leverage, ensure you monitor derivatives/funding rates.
