Glassnode Identifies Large Cluster of Bitcoin Liquidations Around $60,000

Bitcoin (BTC) fell below $75,000 following the release of U.S. inflation data. According to a report by the analytical platform Glassnode on November 11, 2026, the largest cluster of potential liquidations of leveraged long positions is in the range of 59,500–62,600. If the price continues to decline, reaching this area could be accompanied by forced position closures.

The $75,600 level remains a benchmark for Bitcoin

Glassnode estimates the average purchase price of BTC by short-term holders at approximately $75,600. After the quotes fell below this mark, some investors found themselves at a loss. As the price recovers, they may sell coins around the purchase cost, creating additional supply.

At the same time, a significant portion of leveraged positions near the current price has already been liquidated. Analysts also noted a predominance of buy orders on Coinbase and Binance in the near range below the market. These circumstances may limit selling pressure but do not rule out further declines.

BTC trading volume shrank amid weak activity

According to an assessment shared on November 11 by crypto market participant Ash Crypto, the daily spot trading volume of Bitcoin decreased to 126,000 BTC compared to approximately 453,000 BTC in 2022. The difference is about 72%. The author called the figure the lowest since 2016, but the calculation method and exchange coverage are independently unconfirmed.

Stablecoin supply decreased by $14.2 billion

According to Glassnode, over 30 days, the supply of major stablecoins decreased by $14.2 billion – the most significant drop since June 2022. Analysts attribute the change to the redemption of tokens for dollars and the withdrawal of part of the capital from the cryptocurrency market.

Glassnode considers a return to supply growth as a possible sign of new funds entering. While analytical indicators point to limited liquidity, Bitcoin reaching the $60,000 area remains just one of the possible scenarios.