The crypto market faced massive liquidations in the past 24 hours, wiping out hundreds of millions of dollars in leveraged positions. Data shows that more than $400 million was cleared, with long traders taking the heaviest losses as Bitcoin and Ethereum faced sharp corrections.
Longs wiped out as Bitcoin drops
According to Cointelegraph, more than $642 million in long positions were liquidated, including $235.5 million in Bitcoin and $155 million in Ethereum, with the total surpassing $806 million across all markets.
Ainvest: liquidation wave at $400M
Market trackers at Ainvest highlighted that Ethereum’s sudden surge triggered over $400 million in long liquidations. A separate report from the platform noted that the liquidation wave expanded to $455 million within hours, underscoring the scale of the correction.
CryptoPotato: $300M liquidated in one hour
CryptoPotato confirmed that nearly $300 million in longs were wiped out in a single hour as Bitcoin plunged below $110,000, intensifying volatility and shaking out late long traders.
A turning point for leverage?
Analysts suggest that this wave of liquidations could mark a reset in leverage across the crypto market, forcing traders to reduce exposure after weeks of aggressive positioning. With Bitcoin falling below key psychological levels and Ethereum facing rejection near $5,000, the market remains vulnerable to further volatility.
The consensus across multiple platforms is clear: the market just endured one of the largest liquidation events of the year, highlighting the risks of over-leverage in a volatile environment.
Sources: Cointelegraph, Ainvest, CryptoPotato
