Bybit CEO: Crypto Market Turmoil - $10 Billion in Liquidations

Bybit CEO Confirms: Stability in the Crypto Market is Far Cry! Liquidations Reaching $10 Billion

Bybit CEO Ben Zhou has confirmed that the crypto market's stability is far from reality, with liquidations reaching a staggering $10 billion. Zhou took to the social media platform X to share his insights, stating that the real total liquidation was likely up to four times higher than the reported $2.27 billion by crypto data aggregator Coinglass.

According to Zhou, over $2 billion was liquidated on Bybit alone, indicating that Coinglass's numbers were inaccurate due to limitations in the APIs that feed liquidation data. He estimated that the real total liquidation should be around $8-10 billion, with Bybit's 24-hour liquidation alone reaching $2.1 billion.

Zhou's comments come amidst a backdrop of market volatility, triggered by President Trump's announcement of tariffs on US trade partners. The news sent shockwaves through the crypto market, with Bitcoin (BTC) losing the $102,000 level and plunging as low as $92,776 on Coinbase. The sudden downturn led to significant volatility in financial markets over the weekend and into Monday morning.

Trump's announcement of a 25% tariff on imports from Mexico and Canada, and an additional 10% tariff on China, sparked a sharp downturn in digital assets. Immediately following Trump's announcement, Bitcoin (BTC) lost the $102,000 level and plunged as low as $92,776 on Coinbase. According to crypto data aggregator Coinglass, over $2.27 billion was liquidated, mostly by traders trying to leverage long Bitcoin positions.

However, Bybit CEO Ben Zhou has confirmed that the real amount of liquidations was likely up to four times higher. Posting on the social media platform X, Zhou says over $2 billion was liquidated on Bybit alone, meaning Coinglass’s numbers are inaccurate, likely because of limitations in the APIs that feed the liquidation data.

“I am afraid that today’s real total liquidation is a lot more than $2B, by my estimation it should be at least around $8-10b. FYI, Bybit 2