24-Hour Crypto Liquidations Hit $532M, $199M on Ethereum
Coinglass data shows crypto liquidations surged to $532 million in 24 hours, with Ethereum liquidations amounting to $199 million. Long positions worth $460 million were closed, driving 148,745 trader liquidations globally. The largest single crypto liquidation occurred on Binance’s BTC/USDT market at $9.695 million. This wave of crypto liquidations reflects intensified deleveraging across spot and derivatives markets.
Bearish
Large-scale liquidations often signal bearish pressure, as forced selling can exacerbate price declines. The $532 million in crypto liquidations, notably $199 million on Ethereum, indicates heightened market stress and potential further downside in the short term. Historically, similar liquidation spikes in 2021 and 2022 preceded brief rebounds but ultimately reflected broader negative sentiment. In the long term, sustained deleveraging could stabilize markets by removing excess leverage, yet traders should brace for continued volatility.