BREAKING: Bitcoin Bounces Back Above $83,000 as Asia Chip Rout Wipes Out $803 Million — Tokenized SanDisk Bets Lose More Than XRP

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Bitcoin price news rebounds above $83,000 $803 million liquidations SanDisk XRP Asia chip rout trading

Bitcoin bounced back above $83,000 on Tuesday after briefly falling below $81,000, even as a heavy sell-off in Asian chip stocks shook global markets. In the last 24 hours about $803 million in leveraged crypto positions were wiped out, and most of that damage happened in a fast burst during the last 12 hours.


South Korea's KOSPI index plunged more than 6% and fell below 6,000, its lowest level since late July. Big chip makers Samsung Electronics and SK Hynix each dropped about 8%, extending a five-session losing run, as traders worried about high AI valuations and stronger competition from Chinese memory-chip makers. Hong Kong shares also slipped and Nasdaq futures fell, adding to the risk-off mood.


The liquidation numbers show how crowded long trades had become. Long positions made up about $694 million, or 86%, of the total, and more than 172,000 traders were hit. Bitcoin positions lost about $181 million and Ethereum about $178 million, followed by Solana at about $60 million. The largest single loss was a Bitcoin long of about $9.65 million on Binance, and Binance handled roughly half of all liquidations.


The surprise name on the list was SanDisk. Perpetual futures tracking the US memory-chip maker on crypto exchanges saw about $19.1 million in liquidations, slightly more than XRP at about $18.8 million. Contracts linked to SK Hynix, Micron and a leveraged semiconductor ETF were also hit, showing that many traders now use crypto platforms to make big leveraged bets on chip stocks, not just on coins.


For traders, Bitcoin holding above $83,000 after the dip is a sign it is starting to decouple from the stock rout, but the danger is not over. Oil stayed high, with Brent near $106 a barrel, which keeps inflation worries alive ahead of the upcoming US CPI report. Big investors are expected to protect themselves with derivatives and hedging rather than selling their core holdings outright, so sharp swings in both directions are still likely.


Read also: BREAKING: Bitcoin Slides Below $82,000 as $771 Million in Liquidations Hit Long Traders


This post is news only, not financial advice. Always do your own research before buying or selling crypto.

Sources: CoinDesk, CoinGlass