Crypto Market Crash: $800M Wiped Out in Massive Liquidations

Coin WorldMonday, Mar 3, 2025 5:06 pm ET

1min read

The cryptocurrency market experienced a significant downturn, erasing nearly all its recent gains. This sharp decline led to substantial liquidations, with over $800 million worth of cryptocurrencies being wiped out, according to on-chain analytics firm coinglass.

CoinGlass data revealed that approximately 222,235 traders were liquidated amid market uncertainty, resulting in a total liquidation of $801.30 million. The largest single liquidation order occurred on BitMEX. Notably, the majority of these liquidations came from long positions, with over $665 million worth of long positions being liquidated. This significant long-position liquidation likely resulted from traders' bullish sentiment following the Crypto Strategic Reserve announcement.

Top assets, including Bitcoin (BTC), Ethereum (ETH), XRP, and Solana (SOL), have significantly plummeted. Data from CoinMarketCap revealed that these assets have lost over 9%, 15%, 18%, and 20% of their value in the past 24 hours. Following a 9% price drop, Bitcoin (BTC) is trading near $85,410, with a 30% surge in trading volume, indicating heightened participation from traders and investors.

Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.