BREAKING:
$1Billion liquidated from crypto market in the last 24 hours.
What Happened?
The crypto market recently suffered over $1 billion in liquidations within just 24 hours—the majority stemming from short positions.
According to CoinDesk, $1.13 billion in positions were wiped out, with $1.01 billion coming from short sellers alone. Roughly 237,000 traders were affected.
Breakdown Highlights:
Bitcoin futures led the restart of liquidations, comprising $590 million.
Ether futures followed with $241 million.
Major platforms involved included Bybit ($461 million in total liquidations), Binance ($204 million), and HTX ($193 million).
What Caused This?
This wave of liquidations was triggered by a surge in crypto prices, particularly Bitcoin rocketing past $118,000, which caught heavily leveraged short bets off-guard.
The rapid price ramp-up caused a short squeeze, forcing forced liquidations as bearish positions were auto-closed.
Total Liquidations ~$1.13 billion
Short Positions Liquidated ~$1.01 billion
Number of Traders Affected ~237,000
Leading Exchanges Bybit (~$461M), Binance ($204M), HTX ($193M)
