Bitcoin and Ethereum crash wipes out $711M in liquidations
Binance suffers $201M in BTC liquidations as market slumps
The crypto market was hit by a $711 million liquidation wave following sharp drops in Bitcoin and Ethereum.
Over the past 24 hours, the market experienced a nearly 3% pullback. According to CoinMarketCap, BTC lost over 2%, trading at $106,158 at the time of writing, while ETH dropped more than 5%, falling to $2,644.
This downturn led to widespread liquidations across all exchanges, as leveraged positions were forcibly closed.
Total Liquidations in 24 Hours. Source: Coinglass
BTC long positions saw the largest impact, with $315 million liquidated, followed by $147 million in ETH longs. A significant portion of these liquidations occurred within just the past 4 hours.
Record $200M order liquidated
A total of 142,030 traders were liquidated in 24 hours. The largest single liquidation order was recorded on Binance — a BTCUSDT position worth $201.31 million, highlighting the risk of high leverage during volatile market swings.
Despite the correction, Bitcoin remains above key support at $106,000. Analysts note that as long as this level holds, the broader uptrend remains intact. However, further decline could increase volatility and expand liquidations in the altcoin sector.
As we wrote, Why is Bitcoin down today?
