The crypto market faced one of its roughest trading days in months, with more than $1.12 billion in leveraged positions liquidated over the past 24 hours, according to Coinglass.
Data shows that about 252,500 traders were forced out of positions, with $1.04 billion in losses coming from longs and $83.9 million from shorts. Ethereum traders bore the brunt, accounting for $428.1 million in liquidations. Bitcoin followed with $273.6 million, while Solana saw $75.2 million cleared. Other altcoins, including Avalanche, XRP, and Dogecoin, also contributed to the wave of losses.
The single largest liquidation was a $29.1 million ETH-USD order on Hyperliquid, while one high-profile trader reportedly lost $45 million after Ethereum’s price slipped below $4,000, cutting their holdings to less than half a million dollars.
Prices across the market retreated as a result. Ethereum is trading at $3,924, down 5.9% on the day from a high of $4,273. Bitcoin has dropped from an intraday peak of $113,660 to $108,823. The total crypto market cap fell 3.95% to $3.73 trillion, CoinMarketCap data shows.
