Bitcoin’s $1.15B Liquidation Ignites Bull-Bear Tug-of-War as Fed Policy Looms
Bitcoin Faces $1.15B Liquidation Risk Near $106.7K; Analysts Say Leverage Flushes Could Spur Renewed Bullish Momentum
Bitcoin (BTC) experienced a significant liquidation event as its price dipped to $112,000, triggering over $1.15 billion in forced position closures—the largest single liquidation of 2025, according to data from CoinGlass[1]. The move, driven by leveraged traders unable to maintain margin requirements, saw long positions account for $1.62 billion of the total liquidations[1]. On-chain analytics firm Glassnode noted that long positions were particularly vulnerable in the $113,000–$114,000 range, where clustered liquidations accelerated price declines[2].
The liquidation event followed a sharp correction in Bitcoin’s price, which dropped 2.8% overnight to $112,000, erasing $2 billion in open interest, as reported by trader Daan Crypto Trades[1]. Analysts suggest that such cascading liquidations could signal a short-term market bottom. “Large-scale liquidations often act as contrarian indicators,” noted a CoinGlass representative, adding that a short squeeze could emerge as remaining longs are flushed out[1].
Ted Pillows, a crypto investor, highlighted the potential for further downward pressure, predicting a sweep of long liquidations between $106,000 and $108,000 in the coming weeks. “This level seems highly likely before any big upward move,” he stated[1]. However, others remain cautiously optimistic. Trader Jelle emphasized that Bitcoin’s $112,000 support level was “very clean” during its retest, suggesting a potential rebound to $116,000 and beyond[1].
The liquidation event coincides with heightened scrutiny of the U.S. Federal Reserve’s monetary policy. The Personal Consumption Expenditures (PCE) index, the Fed’s preferred inflation gauge, is due for release, with expectations of further rate cuts at the October 29 meeting. The CME Group’s FedWatch tool indicated a near-certainty of a 0.25% rate reduction[1]. Meanwhile, political developments, including rumors of a U.S. government-announced “strategic BitcoinBTC-- reserve,” added volatility to the market[1].
On-chain metrics also suggest Bitcoin may be approaching a “pre-euphoria” phase. CryptoQuant’s analysis of the market value to realized value (MVRV) ratio showed divergence between long-term and short-term holders, a pattern historically observed before major bull market tops[1]. While the MVRV metric has not yet reached extreme levels, the data indicates a maturing bull cycle with upside potential remaining.
Analysts remain divided on Bitcoin’s near-term trajectory. While some warn of a deeper correction toward the $100,000 level, others argue that the current liquidation-driven volatility could clear the way for a renewed bullish phase. “The market is in a tug-of-war between inflation concerns and liquidity expectations,” said Mosaic Asset Company in its latest newsletter[1].
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