- Elon Musk and Donald Trump’s clash triggered $983M in liquidations, mostly from long positions, affecting over 227,000 crypto traders globally.
- BTC dropped 3% and ETH 7%, causing $875.23M in long liquidations amid a sharp sentiment shift tied to the Musk-Trump fallout.
- Liquidations hit PEPE hardest at $753.30K, while MASK showed net gains, reflecting isolated upward price movement during a broader market downturn.
The cryptocurrency market suffered a sudden decline in price in the past 24 hours driven by tensions between Musk and Trump. Bitcoin, Ethereum, and other leading assets suffered significant losses as total liquidations neared nearly $1 billion dollars.
Musk-Trump Fallout Triggers Market Sell-Off
According to a report shared by Wu Blockchain citing Coinglass data, the public dispute between Elon Musk and Donald Trump contributed to sudden market volatility. Bitcoin (BTC) fell over 3%, while Ethereum (ETH) recorded a sharper decline of more than 7%.
This abrupt shift resulted in the liquidation of 227,300 traders. The total liquidation figure touched $983 million, with long positions accounting for $892 million. The data suggests traders were caught off guard as bearish sentiment swept the market.
Liquidation heatmaps reflected this sharp correction. PEPE led with $753.30K in liquidations, signaling heightened speculative exposure. Ethereum followed at $594.37K, while Bitcoin saw lower liquidation activity at $376.65K, indicating shifting risk concentrations.
Long Positions Dominate Total Liquidations
The 24-hour liquidation data shows $875.23 million originated from long positions. This pattern confirms an overwhelming number of traders had positioned for price increases, which failed to materialize.
In the past 12 hours, $733.76 million in long liquidations marked the most volatile trading window. Meanwhile, a single $10 million liquidation on BitMEX stood out as the largest single event of the day.
Across smaller time frames, long positions continued to dominate. The past hour recorded $3.15 million in liquidations, mostly from longs. Over four hours, $18.45 million was liquidated, but 85% came from short positions—hinting at a brief upward movement triggering short squeeze events.
Altcoins Add to Broader Market Pressure
Beyond BTC and ETH, altcoins also experienced turbulent price activity. PEPE’s high liquidation volume suggests traders heavily speculated on its movements. Other tokens such as SOL, LPT, and 1000PEPE also showed noticeable liquidation volumes, reflecting broader altcoin exposure.
Interestingly, MASK showed green on the heatmap, with $246.14K, pointing to fewer forced liquidations or favorable price shifts. This contrasts with the wider trend of long liquidations across most tokens, reinforcing the uneven market reaction.
The day’s data confirms widespread market pressure, increased risk exposure, and rapid shifts in sentiment following external developments.
