Bitcoin liquidations hit $148M as price spikes to $90K before retreating

Bitcoin briefly broke above $90,000 on Wednesday morning before sharply reversing to $87,000 in a single candle, erasing all gains for the day.

The sudden drop triggered $148 million in liquidations over the past hour, including $109 million in short positions and $38 million in longs.

The move rattled broader market sentiment, with the total crypto market down 1% as most major tokens followed Bitcoin’s decline.