- Over 409,000 traders faced massive liquidations as BTC ranged between $99,471 and $109,114.
- $913.77M in long positions wiped out, with Binance leading with $456.96M in liquidation volume.
- Coinglass data shows that BTC, ETH, TRUMP, and Solana saw the largest liquidations, showing broad market turbulence
The cryptocurrency market experienced massive liquidations in the past 24 hours, with 409,214 traders affected and total liquidations reaching $1.24 billion. This turbulence came as Bitcoin tested both sides of the $100,000 mark, ranging between $99,471 and $109,114.
According to Coinglass data, the liquidation data shows a clear bias toward long positions, with $913.77 million in long liquidations compared to $330.24 million in shorts. Binance led exchanges in liquidation volume with $456.96 million, including the largest single liquidation order – a BTCUSDT position worth $15.24 million.
Source: Coinglass
Breaking down the liquidations by exchange, OKX followed Binance with $309.91 million in liquidations, while Bybit recorded $210.23 million. Gate.io and HTX saw smaller volumes at $164.78 million and $56.95 million, respectively. The data shows varying ratios of long vs. short liquidations across platforms, with Bybit showing the highest percentage of long liquidations at 78.52%.
Looking at individual cryptocurrencies, Bitcoin led liquidations with $267.72 million, followed by Ethereum at $216.49 million. Notably, the newly launched TRUMP token saw major activity with $134.30 million in liquidations, while Solana experienced $110.88 million. DOGE and XRP also faced substantial liquidations at $63.52 million and $35.38 million, respectively.
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Other coins accounted for $191.05 million in liquidations, showing that various smaller altcoins and tokens were affected by the market movement. This broad distribution of liquidations across different cryptocurrencies suggests the impact was market-wide rather than isolated to specific assets.
The market has shown signs of recovery after Bitcoin’s dip to $99,000, with most major cryptocurrencies bouncing back from their lows. The high volume of liquidations, particularly in long positions, indicates that many traders were positioned for continued upward movement before the correction. The volatility comes after the overall market experienced a pump after Donald Trump launched his official TRUMP meme coin. The TRUMP price was down over 12% at press time as per CoinGecko data.
