Crypto Liquidations Surge to $535M as Bitcoin Falls Below $98K

Disclaimer: This article is for informational purposes only and does not constitute financial advice. BitPinas has no commercial relationship with any mentioned entity unless otherwise stated.

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The crypto market faced intense volatility in the past 24 hours, with total liquidations reaching $535.53 million (₱31.2 billion), affecting 169,591 traders. Bitcoin dropped nearly 5% to $97,102, while altcoins like Ethereum (ETH) and Solana (SOL) also saw significant losses.

The largest single liquidation was an ETHUSDT position worth $17.74M on Binance, underscoring the scale of leveraged trading risks in the current market.

By the numbers:

• Total Liquidations:
  • Bitcoin: $81.69M
  • Ethereum: $98.30M
  • Solana: $21.15M
  • Dogecoin: $18.12M
  • XRP: $11.55M
• Time-based Liquidations:
  • 1 hour: $4.70M
  • 4 hours: $55.88M
  • 12 hours: $447.22M
  • 24 hours: $535.53M
• Long vs. Short Liquidations:
  • Long: $479.49M
  • Short: $56.04M

Exchange Breakdown (4 Hours):

• OKX: $22.66M (84.69% Long)
• Binance: $21.43M (76.54% Long)
• Bybit: $9.55M (76.68% Long)
• HTX: $990.73K (82.17% Long)
• CoinEx: $899.81K (61.85% Short)

Liquidations happen when an exchange forcefully closes a trader’s leveraged position because the trader can no longer meet margin requirements. This typically occurs when the market moves against the trader’s position, leading to losses that exceed their posted collateral.

• Leveraged Trading: Traders borrow funds to increase their potential gains, but this amplifies risk. While profits can be substantial, losses can quickly escalate.
• Margin Calls: If the market moves unfavorably, traders receive a margin call—a demand to deposit additional funds to maintain their position. Failure to do so results in the exchange automatically liquidating the position.

Context: Bitcoin’s dip to $97,102 represents a 4.8% loss over 24 hours, with selling pressure driven primarily by long liquidations. Altcoins like Ethereum and Solana were hit harder.

These are the market prices as of 9:00 am:

This article is published on BitPinas: Crypto Liquidations Surge to $535M as Bitcoin Falls Below $98K

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