Coinbase Warns of Bitcoin Long Liquidation Risks as Price Falls to $80,595

Bitcoin traded around $80,595 on October 24, leaving roughly 64% of tracked net-long notional exposure underwater following downward price movement. Coinbase Markets identified the largest cluster of net-long Bitcoin positions at an average entry level of $81,993, warning of potential liquidation risks and overhead resistance. Over a 24-hour period, broader crypto liquidations reached $481.25 million, led by $346.15 million in long positions. Bitcoin-specific liquidations totaled $95.06 million, including $85.90 million in longs, while short-term 25-delta options skews ranged between 10.5% and 11.3%, signaling elevated downside hedging.