Bitcoin News Today: Crypto Liquidations Surge Past $614M as ETH and BTC Bear Brunt of Sell-Off

The cryptocurrency market experienced a significant selloff over the past 24 hours, with total liquidations reaching approximately $614.8 million across major exchanges. The largest portion of these liquidations occurred on Bybit, with $219.91 million, followed by Binance at $176.74 million and Gate.io at $86.04 million. The single biggest liquidation order was recorded on Binance in the ETHUSDC pair, valued at $4.45 million [1].

Ethereum (ETH) led the liquidation trend, with $233.45 million in losses, equivalent to 66,678 ETH, followed closely by Bitcoin (BTC), which lost $135.06 million through the liquidation of 1,188 BTC. Other altcoins such as Solana (SOL), Dogecoin (DOGE), and XRP also saw substantial losses, with liquidation values of $35.39 million, $23.32 million, and $20.16 million, respectively [1].

The distribution of liquidations highlights a bearish trend, with long positions suffering the most. Bybit reported that 92.29% of its liquidations were from long traders, while Binance recorded 82.45% long position losses. Gate.io and OKX also saw over 86% of liquidations coming from long positions, indicating a broader shift in market sentiment toward pessimism [1].

The heightened volatility in the crypto market comes amid broader economic uncertainty, including weaker-than-expected U.S. nonfarm payrolls data and a rise in global trade tensions. These factors have contributed to a drop in the overall crypto market cap to $3.6 trillion, with Bitcoin’s price falling to $112,107 from a previous high of $123,200 [2].

Further compounding the situation, crypto ETFs also saw outflows, with Bitcoin spot ETFs losing $812 million, primarily from Fidelity and ARK. Ether ETFs ended a 20-day inflow streak with a net outflow of $152 million, signaling a shift in investor confidence [4].

The liquidation activity reflects a common pattern in volatile markets, where sharp corrections follow significant gains. Historical trends suggest that Bitcoin often enters bearish phases after hitting record highs, and the current sell-off appears to align with these patterns [2]. Traders with leveraged long positions have been especially vulnerable, with more than 147,000 traders affected in the past day [1].

Sources:

[1] Crypto News - Market Liquidations (https://www.cryptonews.net/news/market/31367549/)

[2] Crypto News - Market Crash Analysis (https://cryptonews.net/news/analytics/31367090/)

[4] CoinStats - ETF Outflows (https://coinstats.app/news/bb76782397b6a6596981e080b46683b7745b0f9e361a11fd88be2ee531d96c76_-Spot-Bitcoin-ETFs-see-second-largest-outflow%2C-Ether-ETFs-end-20-day-streak-/)