Coinbase Markets, via its X account, has warned of potential Bitcoin long liquidation risks, noting that a large cluster of net long positions were entered at an average price of $81,993. With Bitcoin now trading below this level, 64% of net long notional value is currently above the spot price, placing these positions under pressure.

In the last 24 hours, the broader crypto market saw $481.25 million in liquidations, with long positions accounting for $346.15 million. Bitcoin long liquidations specifically reached $85.90 million. Coinbase also highlighted that BTC options are pricing a clear downside bias across the volatility curve, with the 25-delta skew indicating higher implied volatility for puts across all maturities.