Crypto Market Witnesses Massive Liquidation Amid Recent Price Plunge

Crypto Market Liquidations Surge Amidst Price Plunge

Approximately 99,014 traders have faced liquidation, resulting in a staggering $286.26 million in losses. Bitcoin alone accounted for $69.2 million of the liquidations.

Massive Liquidations Dominate Market

The cryptocurrency market has witnessed substantial liquidations as values, particularly of Bitcoin, have plummeted drastically in recent days. Leveraged crypto positions worth over $286 million have been liquidated.

In the past 24 hours, 99,014 traders have been liquidated, incurring losses totaling $286.26 million , based on data from CoinGlass. Bitcoin liquidations reached $69.2 million , with long positions accounting for $44.92 million and short positions for $22.29 million . During the same period, Ethereum experienced higher liquidation rates than Bitcoin.

ETH liquidations amounted to $91.73 million . Dogecoin (DOGE), Solana (SOL), and other digital assets reported a combined liquidation of $40.20 million . Minor liquidations were also recorded for other cryptocurrencies.

Negative Investor Sentiment

Major exchanges such as Binance, OKX, ByBit, Huobi, and Bitfinex were impacted by the widespread liquidations. The rapid sell-off and bearish market outlook have sparked panic among traders, erasing earlier gains.

Bitcoin has declined by 4.69% in the past day, currently trading at $60,382 , according to CoinMarketCap. Key technical indicators suggest a shift in technical structure, raising concerns about further falls below $60,000 or even lower.

Questions have arisen regarding the connection between the recent price decline and the excitement surrounding the spot Bitcoin ETF that emerged months prior to the halving. Even the introduction of a spot Bitcoin ETF in Hong Kong failed to attract buyers, with first-day trading volume falling short of expectations.

Today's Crypto News Highlights:

• Hong Kong's New Bitcoin and Ether ETFs Reach $11.2M in Volume on First Day