Bitcoin Liquidations Top $1 Billion as BTC Hits $73,500
Bitcoin liquidations passed $1 billion in 24 hours after a fast drop late Sunday. Bitcoin.com News says BTC slid from $75,690 to $73,477 in 15 minutes. CoinDesk puts the low at about $73,761, the lowest since August, before a bounce above $75,000. The two outlets differ on the exact low, so treat it as roughly $73,500 to $73,800.
What the bitcoin liquidations numbers show
Both outlets cite CoinGlass: more than $1 billion liquidated over 24 hours. CoinDesk says $913 million of it was longs. Bitcoin accounted for $272 million and ether for $448 million. The largest single order was $48 million, in ETH.
Most of the pain landed on traders betting on a rise. Ether fell below $2,100, then bounced to about $2,140.
Why did bitcoin liquidations jump?
Coverage points to two headlines on a thin weekend market. First, Nvidia CEO Jensen Huang admitted an affair with a woman U.S. officials believe passed information to China, and Nvidia’s board opened an independent investigation. Second, Secretary of State Marco Rubio said Iran talks had stalled and called Iranian demands “outrageous.” These are the reasons the outlets give. Nobody can prove which one moved the price.
The backdrop was already weak. Bitcoin.com reports US spot bitcoin ETFs lost about $412 million on Friday and roughly $1.28 billion for the week. It also cites a Fear and Greed Index of 29. CoinDesk notes traders are waiting for Monday’s reaction in traditional markets. We covered the earlier $1 billion liquidation day on Nov 6. This is the second one in four days.
What these bitcoin liquidations mean for a miner
Blunt version: a 3% drop in price is a 3% drop in your revenue, and your power bill does not move. Check your machine against the table below.
Miner math: bitcoin hashprice today
Here is the live maths on November 9. Bitcoin is $73,798 and the network is 968 EH/s, so hashprice is about $34.62 per petahash per day. That is what one PH/s of hashing earns before power.
| Machine | 5c/kWh | 8c/kWh | 12c/kWh | Break-even |
|---|---|---|---|---|
| Antminer S19 (95 TH/s, 3250 W) | -$0.61 | -$2.95 | -$6.07 | 4.2c |
| Antminer S19k Pro (115 TH/s, 2645 W) | $0.81 | -$1.10 | -$3.64 | 6.3c |
| Antminer S19 XP (141 TH/s, 3010 W) | $1.27 | -$0.90 | -$3.79 | 6.8c |
| Antminer S21 Pro (234 TH/s, 3510 W) | $3.89 | $1.36 | -$2.01 | 9.6c |
Numbers are profit per day after electricity, at the three power prices shown. Break-even is the most you can pay per kilowatt-hour before the machine loses money. Specs are the manufacturer ratings; network data comes from mempool.space. Try your own power price in our free bitcoin mining profit calculator. See what these machines really sold for in our used ASIC miner price index. Want to run the same numbers on a machine you can buy today? See our used ASIC miners, or buy several at once through bulk lots.
If bitcoin slips another 5% from here: the break-even power price on an S19k Pro falls from 6.3 to 6.0 cents per kilowatt-hour. At 8 cents, daily profit goes from -$1.10 to -$1.30.
If a machine is already below break-even at your power price, more downside only deepens the loss. See our bitcoin price prediction and the mining economics guides.
If your machines no longer pay, you can sell us your used miners. To buy, see all miners.
-Nick
ING Mining
This is general information, not financial advice. Crypto is volatile, and exchanges can fail. Please do your own research.
How this story was made: drafted with the help of AI tools from public sources, then edited by Nick Squires. See our editorial policy. Spot an error? Email ns@ingmining.com.