Crypto Liquidations Hit $1.2B as BTC Dips Amid Tariffs
Crypto liquidations surged to $1.2 billion in the last 24 hours, affecting 308,750 traders, according to CoinGlass. Bitcoin led the downturn with $414.6 million liquidated—$331.2 million in longs and $82.8 million in shorts. Ethereum followed at $268.8 million, split between longs and shorts.
Other tokens such as Solana (SOL), Dogecoin (DOGE) and XRP also saw heavy liquidations amid sideways market movement. The price of Bitcoin dropped from around $112,000 to near $105,000.
This spike in crypto liquidations follows earlier data of $624.4 million in liquidations and 213,938 traders affected. It comes after a record $19 billion wipeout last week. Market volatility increased after the US announced new tariffs on China on October 10, triggering cascading sell-offs.
Traders are reassessing risk management strategies as macroeconomic uncertainty persists. Ongoing US-China trade tensions and central bank rate decisions point to continued downside risks and heightened volatility.
Bearish
The surge in crypto liquidations signals intensified selling pressure on Bitcoin and Ethereum. High liquidation volumes often exacerbate short-term downside moves as forced position closures drive prices lower. Continued macro uncertainty, particularly US-China tariffs and central bank rate decisions, undermines market confidence and elevates volatility. Traders may experience further price dips before potential stabilization, indicating a bearish outlook in both the near and medium term.