CentBit.Online – Crypto & Blockchain Expert, Bangladesh
The cryptocurrency market witnessed a massive liquidation event over the past 24 hours, with $805 million wiped out from leveraged positions across major exchanges, according to data from Coinglass.
Why It Matters:
The sharp liquidation reflects extreme volatility in the market, with sudden price swings triggering margin calls on both long and short positions. Bitcoin briefly dipped below $87,000, while Ethereum dropped near $3,050, shaking out overleveraged traders.
Breakdown of the Liquidations:
- Longs accounted for over 62% of the total liquidations
- Bitcoin (BTC): ~$325 million liquidated
- Ethereum (ETH): ~$210 million liquidated
- Other altcoins including Solana (SOL), Dogecoin (DOGE), and PEPE also saw millions in liquidations
Major crypto exchanges such as Binance, Bybit, and OKX saw the heaviest trading liquidations.
What’s Driving the Liquidation?
- Post-election profit-taking: After Bitcoin’s post-election rally to $93,500, traders began securing gains.
- Altcoin season speculation: High leverage amid rumors of an incoming altseason created fragile conditions.
- Macroeconomic uncertainty: Mixed U.S. inflation data and regulatory headwinds fueled uncertainty.
Market Sentiment & Outlook:
Despite the volatility, many analysts believe this is a healthy reset before the next leg up.
- BTC remains up nearly 30% month-over-month
- Crypto market cap still holds above $3.1 trillion
- Analysts like Miles Deutscher predict a strong altcoin rotation once Bitcoin cools off.
Final Thought:
Liquidation cascades are a common part of crypto bull cycles, often shaking out weak hands and preparing the market for a more sustainable climb. As always, caution is key, especially with high-leverage trades.
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