Key Takeaways
- • Roughly $803 million in leveraged crypto positions were liquidated within 24 hours, with 86% of losses coming from bullish bets as bitcoin briefly fell below $81,000.
- • SanDisk perpetual futures recorded $19.09 million in liquidations, exceeding XRP and highlighting rising leveraged trading in semiconductor stocks on crypto venues.
- • The selloff was tied to a 6% drop in South Korea's KOSPI and bitcoin's dip; the market reversed as bitcoin recovered above $83,000, with short positions then accounting for most recent liquidations.
- • The episode signals growing exposure to semiconductor equities within crypto derivatives markets amid regional technology sector weakness.
Summary
About $803 million in leveraged crypto positions were liquidated over a 24-hour period, according to Pluang's report, with 86% of the losses attributed to bullish bets. The bulk of the liquidations came during a sharp selloff that coincided with a 6% drop in South Korea's KOSPI index and a dip in bitcoin, which briefly fell below $81,000.
A notable feature of the episode was the scale of liquidations in SanDisk perpetual futures, which totaled $19.09 million and surpassed XRP's liquidations. The article characterizes this as evidence of increased leveraged trading on chip stocks within crypto venues, reflecting growing exposure to semiconductor equities in crypto markets amid regional tech selloffs.
The market direction reversed as bitcoin recovered above $83,000, after which short positions accounted for most of the recent liquidations. Related coverage from the same period described bitcoin's intraday range of roughly $80,850 to $83,500, with about $810 million in liquidations affecting more than 173,000 traders, and reported that the rebound decoupled from a sell-off in Asian chip stocks and weakness in Nasdaq futures, with elevated oil prices tied to Middle East tensions adding to inflation concerns ahead of US inflation data.
As of 12:41 WIB on October 13, 2026, Pluang quoted bitcoin at Rp1,499,096,231, down 0.11% over the prior day, and XRP at Rp24,542, down 2.84%. Bitcoin's market capitalization was cited at Rp30,024.87 trillion.
A notable feature of the episode was the scale of liquidations in SanDisk perpetual futures, which totaled $19.09 million and surpassed XRP's liquidations. The article characterizes this as evidence of increased leveraged trading on chip stocks within crypto venues, reflecting growing exposure to semiconductor equities in crypto markets amid regional tech selloffs.
The market direction reversed as bitcoin recovered above $83,000, after which short positions accounted for most of the recent liquidations. Related coverage from the same period described bitcoin's intraday range of roughly $80,850 to $83,500, with about $810 million in liquidations affecting more than 173,000 traders, and reported that the rebound decoupled from a sell-off in Asian chip stocks and weakness in Nasdaq futures, with elevated oil prices tied to Middle East tensions adding to inflation concerns ahead of US inflation data.
As of 12:41 WIB on October 13, 2026, Pluang quoted bitcoin at Rp1,499,096,231, down 0.11% over the prior day, and XRP at Rp24,542, down 2.84%. Bitcoin's market capitalization was cited at Rp30,024.87 trillion.
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