Crypto Liquidations Surpass $498 Million as Bitcoin Hits $75,900 Record High

According to data from CoinGlass on Nov. 7, the cryptocurrency market witnessed $498 million in total liquidations over a 24-hour period, primarily driven by a surge in Bitcoin's price to $75,900. Short positions accounted for the majority of the fallout, totaling $329 million and affecting more than 126,000 traders. Bitcoin-related liquidations reached approximately $184 million, while Ethereum saw $168 million in forced closures as it approached the $2,300 mark. This volatility follows a week of significant institutional activity; spot ETF inflows for the week ending Nov. 6 reached $767 million for Bitcoin and $160.8 million for Ethereum. The liquidation event highlights the intense pressure on bearish bets amid a broader market rally and sustained capital entry through regulated investment vehicles.