Crypto Bloodbath: $2.2 Billion Liquidated as Bitcoin Spirals Toward $60,000
Over $2.12 billion in crypto positions vanished as Bitcoin plunged 14%, shaking traders, treasuries, and global markets alike.
Over $2.12 billion in crypto positions vanished as Bitcoin plunged 14%, shaking traders, treasuries, and global markets alike.
Bybit, Binance, and OKX saw the most liquidations among exchanges, while ETH and BTC dominated the charts as the most impacted assets.
Bitcoin and Ethereum were the primary drivers of the sell-off. Their numbers accounted for more than $220 million in liquidations combined.
Bitcoin soared to a record $110,000 amid a $454 million liquidation spree and a sharp divergence from U.S. equity trends.
The price surge aligned with a 90-day pause on most “reciprocal” tariffs announced by President Donald Trump on April 9, 2025, via Truth Social
The global financial markets are also reeling today, with stocks and commodities plummeting as fears of a trade war grip investors.
Long positions accounted for $242.16 million (80%) of the liquidations, compared to $60.61 million from short positions.
Nearly 256,000 traders were liquidated, with a $5.07 million Bitcoin position on BitMEX marking the largest single liquidation.
The sharp reversal follows Sunday’s rally fueled by President Trump’s announcement of a U.S. crypto reserve, but much of those gains have since evaporated.
Traders underestimated how quickly Trump’s crypto-friendly policies could move markets.