Binance News: Bitcoin Drops to $80K, Triggering $620M in Liquidations

In a volatile move, Bitcoin’s price saw a significant drop over the weekend, impacting traders and resulting in substantial liquidations across various cryptocurrencies.

Bitcoin Briefly Drops to $80K, Causing $620M in Liquidations

Over the weekend, Bitcoin’s price stabilized at around $86,000. However, in the past several hours, the price dropped to as low as $80,000. This downtrend affected over 220,000 over-leveraged traders, resulting in total liquidations of approximately $620 million in the last 24 hours. BTC trades comprised around $240 million of this figure, Ethereum (ETH) accounted for $108 million, while Ripple (XRP) made up roughly $30 million. The largest single liquidation order happened on Binance, costing the affected person $32.09 million. Later, Bitcoin rebounded from this low.

CZ Urges Elon Musk to Ban Bots on X Platform

Former Binance CEO Changpeng Zhao (CZ) has called on Elon Musk to take decisive action against automated accounts, or bots, that are dominating interactions on the X platform. CZ emphasized in a post that he only wants to interact with humans and suggested banning all bots. He also stressed the need for more stringent measures to curb the spread of misinformation, particularly related to cryptos. CZ specifically mentioned that API posting should be disabled to prevent the use of tools like Grok/GPT/DeepSeek to generate and copy-paste tweets.