Bitcoin’s price broke back above the psychological $80,000 level on November 4, 2026. The leading cryptocurrency tapped a range of $80,470 to $80,512 with a daily gain of over 4.1%. The sudden price surge triggered $378 million in short position liquidations across global crypto derivatives exchanges in just one hour, according to CoinGlass data.
During that same hour, total market liquidations reached $466.33 million. Short positions heavily dominated at 81.1%, or more than 4.3 times the $88.24 million in liquidated longs. Of the $386.16 million in short liquidations accumulated across a four-hour window, 98% took place right during the peak breakout hour.
This rally pushed Bitcoin back above its 50-day moving average, snapping a corrective trend that had previously dragged the market toward the $76,000 region.
Where the Largest Liquidations Occurred
Over the past 24 hours, Bitcoin accounted for $396.18 million in total liquidations, with short positions making up 75.9%. The altcoin market moved rapidly as well, with Ethereum trailing in second place. Liquidations on ETH contracts reached $236.55 million as its price jumped 6.1% to $2,434.
Among derivatives exchanges, Binance processed the largest share of liquidations, accounting for 38.9% of the market total. The single largest liquidation order throughout this period took place on HTX, involving an ETH-USDT contract worth $38 million.
The crypto market’s rebound coincided with gains on Wall Street following the U.S. midterm elections. At the close of the U.S. trading session, the Dow Jones climbed 2.5%, while the Nasdaq-100 rebounded 1.14% to 28,500.
2.26 Million BTC Stack Awaits in the Breakeven Zone
Despite the rapid price increase, institutional capital flows pointed in the opposite direction leading up to the breakout. An analysis by Bitfinex noted that net outflows from U.S. spot Bitcoin ETFs reached $1.16 billion across the prior three trading sessions. That figure included a record daily outflow of $405.3 million from BlackRock’s IBIT on November 2.
The current hurdle for price action lies in a supply overhang formed during previous trading cycles. Bitfinex mapped potential resistance and breakeven selling pressure in the $81,000 to $85,500 zone. Within this price corridor, investors accumulated roughly 2.26 million BTC during earlier market phases.
For market participants considering entries at this level, the $81,000 to $85,500 range presents a stern test of buying strength. Investors who accumulated 2.26 million BTC in that area may look to offload their coins once their capital breaks even. Without fresh buying demand capable of absorbing that supply overhang, the upward move could stall right at the exit door of earlier investors.
Reported by crypto.news.
Also read: What Is Bitcoin Halving?
Previously: Bitcoin Recovers to $78,300 Following US Midterms - Stalled at $79,500 as ETF Outflows Slow 82%
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
