ETH Liquidations Lead $1.19B Crypto Sell-Off
Crypto liquidations reached $1.19 billion in 24 hours, with more than $1 billion from long positions. ETH liquidations totaled about $356 million, surpassing Bitcoin’s $298 million. Relative to market value, ETH liquidations were roughly six times higher, underscoring heavy pressure on leveraged Ether trades. Ether fell more than 3% to about $2,490, while Bitcoin dropped around 1%. Liquidations also affected SOL, XRP and NEAR positions, at approximately $71 million, $34 million and $25 million, respectively.
The sell-off came amid interest-rate concerns, renewed Iran tensions and warnings that AI advances could threaten crypto wallet security. Bitcoin later rebounded to around $82,200 after US President Donald Trump said the US would not strike Iran before the midterm elections. That move triggered about $25 million in liquidations over four hours, around 78% from short positions. Elevated leverage leaves markets vulnerable to further sharp moves; traders are watching whether Bitcoin can reclaim $83,000.
Bearish
The event is bearish for ETH in the short term: Ether fell more than 3%, and its roughly $356 million in liquidations—about six times Bitcoin’s on a market-value-adjusted basis—signals unusually intense pressure on leveraged positions. Large-scale long liquidations can force further selling and amplify volatility, while macroeconomic and geopolitical concerns may keep traders cautious. Bitcoin’s rebound and the subsequent short liquidations show that positioning can reverse quickly, but they do not erase the broader deleveraging signal. Over the longer term, liquidations alone do not establish a lasting trend; stabilization in spot demand, reduced leverage and improved sentiment would be needed to support a recovery. The classification reflects the immediate downside pressure on the cryptocurrencies discussed, particularly ETH.