Ethereum News Today: Crypto Market Sees $615M Liquidations as Ethereum and Bitcoin Lead the Wipeout

The cryptocurrency market experienced a significant wave of liquidations over the past 24 hours, with a total of $360 million worth of leveraged positions being forced to close [1]. The majority of these liquidations—$279 million—came from long positions, highlighting a broad sell-off as traders were unable to withstand downward price movements and were forced out of leveraged bets [1]. This data aligns with broader indicators of market distress, as traders faced margin calls amid heightened volatility and deteriorating sentiment.

Multiple sources have reported similar figures, with Coinglass recording $679 million in total liquidations during the same period, of which $554 million came from long positions [2]. Another report noted a total of $615 million in liquidations across the market, reinforcing the scale and severity of the selloff [3]. The most heavily impacted assets were Bitcoin and Ethereum, with $228 million and $262 million in liquidations respectively [4]. These figures underscore the significant leverage present in the market and the concentrated risk exposure among traders in the leading digital assets.

The dominance of long position liquidations signals a strong bearish bias in the market, with traders struggling to maintain their positions as prices continued to fall. This suggests a growing inability among leveraged traders—both retail and institutional—to manage risk effectively in the face of downward pressure. The event highlights the fragile nature of leveraged trading in times of market stress and raises concerns about the broader stability of the ecosystem.

Market participants are now closely monitoring whether this wave of liquidations will stabilize or evolve into a deeper correction. As traders digest the recent losses, the market is at a critical juncture. The high volume of liquidations serves as a key barometer for investor behavior and market health, offering insight into the resilience—or fragility—of leveraged positions in times of uncertainty. Whether this marks a temporary correction or the start of a more prolonged bearish phase remains to be seen.

Source:

[1] APT Miner gains traction as XRP holders seek stable passive income (https://www.mexc.com/news/apt-miner-gains-traction-as-xrp-holders-seek-stable-passive-income/63486)

[2] Crypto market loses 2.73% of total cap in 24 hours (https://www.facebook.com/groups/2884002658576629/posts/3984890571821160/)

[3] Crypto Market Sees $615M Liquidations as Ethereum and ... (https://coindoo.com/crypto-market-sees-615m-liquidations-as-ethereum-and-bitcoin-lead-the-wipeout/)

[4] Manuel - Cardano's Midnight launches Glacier airdrop ... (https://m.facebook.com/manuel.guevarra.369210/photos/cardanos-midnight-launches-glacier-airdrop-distributing-night-tokens-to-37m-wall/734980139415197/)