The cryptocurrency market experienced a steep downturn this week, with over $620.5 million** in leveraged positions liquidated within 24 hours. Bitcoin’s sudden decline below **$80,000 triggered a cascade of margin calls, exacerbating volatility across digital assets.
Key Highlights of the Liquidation Wave
- Total liquidations: $620.5 million (Coinglass)
- Affected traders: 225,381
- Long positions hit hardest: $529.4 million (85% of total)
- Short positions: $91.1 million
Bitcoin Dominates Liquidations
BTC led the sell-off with $239.5 million** in positions wiped out, including a single **$32 million liquidation on Binance. Long traders bore the brunt, losing $205.6 million as prices plunged.
👉 Bitcoin’s volatility explained
Analyst Ash Crypto noted on X:
"Bitcoin long liquidations exceed those during the 3AC, Celsius, and FTX collapses."
Comparative Data (Source: CryptoQuant):
| Event | BTC Long Liquidations |
|---------------------|----------------------|
| Current Drop | 14,714 BTC |
| Celsius Crash | 13,453 BTC |
| FTX Collapse | 1,807 BTC |
Market-Wide Impact
- Total crypto market cap: Down $148 billion
- Ethereum (ETH): Second-most affected ($108.5 million** liquidated), trading at **$2,062 (-5.3%)
- Whale alert: A Maker whale holding 65,675 ETH ($135.8M) faces liquidation if ETH drops to **$1,931**
Whale Activity Diverges
- Losses: World Liberty Financial’s $336M** portfolio now worth **$226M (37% loss on ETH positions).
- Aggressive longs: One whale increased exposure to SOL, ETH, WIF, and BTC—now $14.3M underwater.
- Successful shorts: Another whale profited $7.5M betting against BTC.
FAQs
Q: What caused the liquidations?
A: Bitcoin’s drop below $80,000 triggered margin calls, forcing leveraged traders to sell.
Q: How does this compare to past crashes?
A: Long liquidations surpassed those during major events like FTX’s collapse (per CryptoQuant).
Q: Are whales still buying?
A: Mixed activity—some doubled down on longs, while others shorted BTC profitably.
👉 Navigating crypto volatility
Current BTC Price: $82,629** (-3.9% in 24h). Analysts warn of further tests at **$78,000 support.
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