Massive $757 million liquidation across crypto market in 24 hours, long positions account for $119 million

In the past 12 hours, there has been a total of $176 million in liquidations across the entire network, with long positions accounting for $119 million. In the past 24 hours, a total of 168,320 people worldwide have been liquidated, with a total liquidation amount of $757 million. The largest single liquidation occurred in the HTX-BTC-USDT pair, amounting to $39.2448 million.

In the past 12 hours, the crypto market experienced a wave of liquidations, totaling $176 million across the network. Notably, long positions accounted for $119 million, indicating a significant squeeze on bullish traders. Over the past 24 hours, a total of 168,320 people worldwide have been liquidated, with a total liquidation amount of $757 million. This rapid increase in liquidations underscores the ongoing volatility in the crypto market.

The largest single liquidation event occurred in the HTX-BTC-USDT pair, amounting to $39.2448 million. This substantial liquidation highlights the potential risks associated with leveraged trading in the crypto market. The concentration of liquidations in long positions suggests that traders were heavily positioned on the upside, making them particularly vulnerable to market downturns.

The recent market volatility can be attributed to various factors, including the Federal Reserve's signals at the Jackson Hole meeting and the broader macroeconomic conditions. Bitcoin, the largest cryptocurrency by market capitalization, has been particularly affected, with its price dropping to seven-week lows below $109,000. This decline has erased all gains since the Jackson Hole speech, leading to widespread liquidations [1].

Ethereum, the second-largest cryptocurrency, has also seen significant liquidations, with $179 million in forced closures over the past 24 hours. The sharp drop in Ethereum's price, which fell nearly 6% over the period, made leveraged longs particularly vulnerable. This concentration of liquidations in Ethereum reflects the asset's sharper price movements relative to Bitcoin, despite the latter's larger market size [3].

The liquidation cascade was not a result of a broad two-way flush but rather a concentrated squeeze on long positions. This pattern was evident across exchanges, with liquidations heavily skewed against longs. Even on exchanges with more balanced activity, such as OKX and Hyperliquid, liquidations leaned heavily against longs [3].

In addition to the liquidations, the crypto market has seen a significant rotation of capital out of risk assets. This trend is evident in the decline of Bitcoin and Ethereum prices, which have wiped out all of last week's gains. The total market capitalization has dropped below $4 trillion, with nearly $200 billion exiting the space [1].

The recent market conditions have led to differing predictions from industry experts. Some analysts, such as CoinGecko co-founder Bobby Ong, believe that the market is going through a necessary correction before a potential recovery. Others, like goldbug Peter Schiff, have predicted a fall to $75,000 for Bitcoin [1].

Despite the recent volatility, some cryptocurrencies have shown resilience. Avalanche, for instance, saw a 9% decline but remains above its key level of $22.53. The filing of the Grayscale Avalanche Trust with the SEC may also support a potential recovery in AVAX [2].

In conclusion, the crypto market is currently experiencing significant liquidations, with long positions bearing the brunt of the market's volatility. The recent decline in Bitcoin and Ethereum prices has led to a rotation of capital out of risk assets, with the total market capitalization dropping below $4 trillion. While some experts predict a potential recovery, the ongoing volatility highlights the risks associated with leveraged trading in the crypto market.

References:
[1] https://cointelegraph.com/news/crypto-liquidations-hit-900m-bitcoin-sheds-jackson-hole-gains
[2] https://www.fxstreet.com/cryptocurrencies/news/cryptocurrencies-price-prediction-fartcoin-avalanche-bnb-asian-wrap-26-august-202508260526
[3] https://cryptoslate.com/insights/market-sees-449m-in-liquidations-as-eth-drops-nearly-6-percent/