The cryptocurrency market has endured a major flush-out over the past 24 hours, with total liquidations surging to $614.75 million.
The move was heavily skewed toward long positions, which accounted for $533.52 million of the total, while shorts saw a far smaller $81.23 million in losses, according to data from CoinGlass.
Ethereum emerged as the biggest casualty, with a staggering $233.71 million in positions wiped out — $200.79 million of which were long bets. Bitcoin followed with $134.40 million in liquidations, dominated by $125.45 million in longs. Together, these two top cryptocurrencies made up nearly 60% of the market’s total liquidations.
Other major assets also saw significant position closures. Solana recorded $35.63 million in liquidations, while Dogecoin and XRP faced $23.40 million and $20.35 million respectively. Altcoins across the board were not spared, with over $53 million in liquidations spread across the broader market.
The spike in liquidations comes amid continued market volatility, with Bitcoin hovering around $113,800 and Ethereum trading near $3,511. Both assets have posted weekly losses — down 3.49% for BTC and 6.22% for ETH — signaling sustained selling pressure.
With leveraged long traders bearing the brunt of this latest move, analysts warn that the market could remain unstable if prices fail to recover key support levels. For Ethereum, that threshold sits near $3,500, while Bitcoin traders are watching the $113,000 zone closely.
If the sell-off extends, another wave of liquidations could follow, further amplifying volatility and potentially pushing prices lower in the short term.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/crypto-market-sees-615m-liquidations-as-ethereum-and-bitcoin-lead-the-wipeout/