Key Takeaways
- • A single Bitcoin long position valued at $3.12 million was liquidated on Binance's perpetual futures market at $80,419 on October 24, 2026, according to the primary source.
- • The forced closure occurred because price moved against the long position, triggering automatic liquidation under leveraged futures terms.
- • The event was a single liquidation rather than an aggregate of multiple positions, underscoring volatility in BTC futures.
- • On Pluang, BTC traded at Rp1,451,055,431 as of Oct 25, 2026 02:21 WIB, down 1.12% over the prior day, with 63% of orders being buys.
- • Concurrent market data showed broad crypto weakness on October 24, with Bitcoin and Ether both declining and mixed perpetual funding rates.
Summary
A single Bitcoin (BTC) long position valued at $3.12 million was liquidated on Binance's perpetual futures market at a price of $80,419 on October 24, 2026, according to the primary source. A liquidation of this kind means the exchange forcibly closed the leveraged position because the price did not move in favor of the long bet. The source characterized this as one liquidation event rather than a combined figure across multiple positions, and it highlighted the risks of leveraged trading in crypto futures, where positions can be closed automatically when markets move against them.
The episode illustrates the high volatility in crypto derivatives markets. Additional market data cited in the same coverage put Bitcoin at Rp1,451,055,431 on Pluang as of October 25, 2026 at 02:21 WIB, down 1.12% over the previous day. The same data indicated that 63% of orders were buys, with a typical hold time of 112 days, suggesting steady investor interest despite short-term price swings.
Related coverage from the same day showed a broadly weaker tape. Bitcoin and Ether declined by 1.31% and 1.52%, trading at $80,669.49 and $2,367.01 respectively, with perpetual futures funding rates oscillating between bullish and bearish readings. Bitcoin had earlier crossed $80,000 for the first time, reaching $80,209 on Binance's spot market at 12:55 p.m. ET on October 24. Ether subsequently fell 4.38% below $2,300, which coverage attributed to a lack of ETF inflows and broader liquidations.
For institutional participants, the liquidation serves as a reminder of the margin and leverage exposure embedded in perpetual futures, particularly during periods of rapid price movement around key levels such as $80,000.
The episode illustrates the high volatility in crypto derivatives markets. Additional market data cited in the same coverage put Bitcoin at Rp1,451,055,431 on Pluang as of October 25, 2026 at 02:21 WIB, down 1.12% over the previous day. The same data indicated that 63% of orders were buys, with a typical hold time of 112 days, suggesting steady investor interest despite short-term price swings.
Related coverage from the same day showed a broadly weaker tape. Bitcoin and Ether declined by 1.31% and 1.52%, trading at $80,669.49 and $2,367.01 respectively, with perpetual futures funding rates oscillating between bullish and bearish readings. Bitcoin had earlier crossed $80,000 for the first time, reaching $80,209 on Binance's spot market at 12:55 p.m. ET on October 24. Ether subsequently fell 4.38% below $2,300, which coverage attributed to a lack of ETF inflows and broader liquidations.
For institutional participants, the liquidation serves as a reminder of the margin and leverage exposure embedded in perpetual futures, particularly during periods of rapid price movement around key levels such as $80,000.
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