In the latest market turbulence, $805 million worth of leveraged positions were wiped out across the cryptocurrency landscape within the last 24 hours, according to Coinglass data cited by BlockBeats.
Key Details
Massive Leverage Unwind: Over $700 million of the total were long positions liquidated, with the remainder from short liquidations, signaling a heavy skew toward bull-bets being forcibly closed.
Broad-Based Weakness: This liquidation tidal wave coincides with a broader market sell-off — analysts reported $751 million wiped out, with altcoins leading the decline while Bitcoin retreated to its mid-July lows.
Market Conditions: The downturn follows rising macroeconomic uncertainty—including persistent U.S. tariffs—and sweeping profit-taking across crypto holdings.
What’s Behind the Crash?
Longs Bears the Brunt: A staggering amount of bullish leveraged bets were decimated, reflecting overexposure to overoptimistic positions.
Altcoins Lead the Losses: The altcoin sector, including Ethereum, Solana, Dogecoin, and Cardano, absorbed the sharpest losses—intensifying price drop feedback loops.
Macro Pressures Mount: A strong U.S. dollar, unchanged interest rates, and fresh trade-related regulatory headwinds have raised investor risk aversion.
What Comes Next?
Volatility May Persist: Unless sentiment shifts, collateral damage could deepen, especially in derivatives markets where leverage remains elevated.
Support Levels Key: Traders will be watching key price bands—such as Bitcoin’s $113,500–$114,000 range—for signs of stabilization.
Sentiment Watch: With the Crypto Fear & Greed Index retreated toward neutral, market confidence appears fragile but not capitulated.
