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Trump's Crypto Reserve Spark: $1B Liquidations in 24 Hours

Coin WorldMonday, Mar 3, 2025 4:36 pm ET
1min read

The cryptocurrency market has witnessed significant liquidations in the past day, totaling nearly $1 billion, as Bitcoin and altcoins rebounded following a bearish February. The recovery was sparked by an announcement from former US President Donald Trump, who revealed plans for a Crypto Strategic Reserve that includes Bitcoin, Ethereum, XRP, Solana, and Cardano.

The news of the Crypto Reserve, which has been much-anticipated in cryptocurrency circles since the US elections, has had a drastic effect on trader sentiment. Bitcoin approached the $95,000 level during the surge but has since witnessed a small pullback to $92,800. Ethereum displayed a similar pattern, with a retrace from $2,550 to $2,360. Overall, the top two cryptocurrencies are up 8% and 6% during the last 24 hours, respectively.

Interestingly, XRP, SOL, and ADA, the three coins initially announced, have shown much stronger rallies of 17%, 13%, and 48%, respectively. The bullish momentum has not been restricted to just these five coins, as coins across the space have observed some degree of rise. This volatility has led to a significant increase in liquidations on derivatives platforms.

According to data from CoinGlass, a total of $971 million in cryptocurrency derivatives contracts have found liquidation in the past day. Around $558 million of these liquidations involved short investors, representing over 57% of the total. Despite the bullish action, around $412 million in long holders still got liquidated as a result of the pullback. Bitcoin and Ethereum have predictably come out on top with $353 million and $182 million in liquidations, respectively.

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superbilliam
03/03
Trump's Crypto Reserve got everyone hyped, but those liquidations tho... 🤔
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mrkitanakahn
03/03
@superbilliam Yeah, liquidations can be wild.
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josemartinlopez
03/03
Cardano getting attention, but its devs better keep improving or... 😅
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WorkingCareful7935
03/03
@josemartinlopez 😂
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spanishdictlover
03/03
BTC near $95k and pulled back? Classic bull trap or just a correction?
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GnosticSon
03/03
$SOL riding the wave, but remember, FOMO is not a strategy.
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AdvantageNo3180
03/03
Crypto whales probably doing backflips today
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TobyAguecheek
03/03
Anyone else adding $TSLA to their crypto mix? Diversification feels important now.
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Surfin_Birb_09
03/04
@TobyAguecheek How long you planning to hold TSLA? Curious if you're thinking short-term flip or long-term stack.
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Fluffy-Belt1325
03/03
$ETH close to ATH, is it sustainable? 🤔
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I_kove_crackers
03/03
XRP's pump got me 🤔. Thinking to HODL and see if it moonshot or dump.
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a_monkie
03/03
Trump's Reserve pumps, but watch for the next dip.
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NEYO8uw11qgD0J
03/03
Liquidations hitting hard, especially for shorts. Guess who's buying the fear? 🤑
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Woleva30
03/03
$ADA love is real, but can it hold? Long-term hodling looks promising.
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Affectionate_You_502
03/03
Altcoins rallying, but which ones are worth the hype? Do your own research, folks.
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bobpasaelrato
03/03
$SOL mooning, but don't get rekt on pullbacks.
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Solarprobro4
03/03
ETH at $2,360? Not bad, but I'm waiting for the next dip to stack more.
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BlackBlood4567
03/03
HODLing $ADA, feels like 2020 all over again 😂
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