Crypto Market Hit by $744 Million Liquidations in 24 Hours
- Crypto market experiences $744 million in liquidations over 24 hours.
- Long positions most affected by market volatility.
- Major exchanges including Binance and OKX involved.
Over the past 24 hours, approximately $744 million worth of Bitcoin BTC -1.83% and Ethereum ETH -1.17% derivatives have been liquidated on major exchanges including Bybit, Binance, and OKX amid significant market volatility.
These liquidations underscore the vulnerabilities in the cryptocurrency market, notably amid macroeconomic shifts, affecting traders heavily invested in long positions, with significant impacts on prices.
Over the last 24 hours, BTC and ETH derivatives faced approximately $744 million in liquidations, primarily affecting long positions. Macro Factors Drive Liquidations Impacting Bitcoin and Ethereum
The liquidations largely occurred on major exchanges Bybit, Binance, and OKX. Traders experienced substantial losses due to extreme Market Reactions Cause Significant Wipeout in Crypto Trading, affecting both Bitcoin, Ethereum, and other select altcoins.
The financial impact was immediate, with BTC selling off from $124,000 to below $118,000, and ETH shorts losing $147 million as prices surged. Traders Face Losses as Major Exchanges Experience Liquidations The ripple effects were felt across the crypto industry.
Market pundits observed the event as a significant Leveraged Wipeout, Highlighting Vulnerabilities in Crypto Markets, amid macroeconomic policy shifts. Institutional trading strategies came under pressure.
Traders are advised to be cautious as macroeconomic signals continue influencing market sentiments, exposing high leverage risks. "ETH is trading near record highs with Tom Lee forecasting $15K by end 2025."
The crypto market faces increased scrutiny as Regulatory Scrutiny Heightens as Market Faces Liquidation Risks. Historical trends suggest such liquidations could harm investor confidence, influencing speculative behavior and future trading volumes.
