Crypto market volatility triggers $467M in liquidations, impacting 164,700 traders
$226 million in long positions were liquidated
As of the time of writing, heightened volatility in the cryptocurrency market led to trader losses exceeding $467 million in the past 24 hours.
While much attention remained on Bitcoin, which still hasn’t surpassed the psychological $100,000 mark, many altcoins experienced double-digit growth and sharp fluctuations, resulting in the liquidation of both long and short positions throughout the day.
According to CoinGlass data, $226 million in long positions were liquidated, including $57.5 million in BTC and $32 million in XRP. Meanwhile, short positions accounted for $241 million in losses, with significant contributions from ETH ($58 million), DOGE ($47.7 million), and SOL ($21 million).
It was a very hectic day
The substantial price swings were evidenced by the Relative Volatility Index (RVI), which spiked to around 75 three times during the day before dropping to 25. In total, over 164,700 crypto traders faced liquidations.
The day’s largest liquidation involved a BTC/USDT trader on Binance, closing a position worth $15 million. However, notable trading activity also occurred among low-cap altcoins, where trader losses surpassed $68 million.
As we wrote, following a thorough investigation of irregular transactions and extensive data analysis, the platform implemented risk control measures and launched a compensation plan to reimburse affected users.
