- Over 218,000 traders were liquidated in 24 hours, totaling $714 million in losses across Bitcoin, Ethereum, and other altcoins.
- Long positions suffered the most damage at $511 million, while short liquidations amounted to $203 million across major exchanges.
- A $20.4 million Ethereum long position on Hyperliquid marked the largest single liquidation during the intense crypto market bloodbath.
A market bloodbath engulfed the cryptocurrency market over the last 24 hours, causing significant liquidations of $714 million. Almost 218,000 traders were liquidated, with both long and short positions liquidated in heavy market volatility.
Massive Sell-Off Hits Bitcoin, Ethereum, and Solana
According to a post by Crypto Patel on X, Bitcoin led the wave of liquidations, with $232.9 million flushed out in just one day. Ethereum followed with $165.3 million, while Solana and other altcoins collectively accounted for over $120 million in forced liquidations.
The sharp movement caught leveraged traders off guard as liquidations spread rapidly across exchanges. Long positions accounted for the majority of the losses – an estimated $511 million—compared to short positions, which totaled about $203 million. These large movements of volatility depleted liquidity pools, leading to many positions being susceptible to material price movements.
Essentially, this liquidation event represents a wider challenge between leveraged traders (who had either realized profits or losses due to the rapid price movements) and liquidity providers. Having wiped out roughly $700 million, this event indicates another period of uncertain circumstances taking shape in the crypto market, whereby the ability for liquidation of overleveraged positioned traders occurs rapidly.
Leverage Traders Crushed Amid Sudden Price Volatility
Crypto Patel’s report noted that the largest single liquidation was an Ethereum long worth $20.4 million on Hyperliquid, marking one of the day’s biggest losses. This incident raised margin trader concerns as sharp corrections wiped out gains in no more than a few minutes of trading.
The speed of the unwinding suggests speculative trading is still a strong force driving market volatility. As liquidity thins, leveraged positions are increasingly vulnerable to cascading liquidations, creating destabilizing impacts on the market.
Amid this turbulence, institutional and “smart money” traders managed to avoid substantial losses by maintaining disciplined exposure levels. The widespread liquidations demonstrate how sudden shifts in sentiment can disrupt even major assets like Bitcoin, Ethereum, and Solana within hours.
