According to recent data from Coinglass, as reported by PANews, the cryptocurrency market experienced significant liquidations totaling $229 million over the past 24 hours. This event highlights the ongoing volatility in the crypto space, with both long and short positions facing substantial losses. Below is a detailed breakdown of the liquidations and their implications for traders and investors.
Liquidation Breakdown
Total Liquidations: $229 million
Long Positions: $104 million (45.4% of total liquidations)
Short Positions: $124 million (54.6% of total liquidations)
Bitcoin (BTC): $36.43 million in liquidations
Ethereum (ETH): $94.87 million in liquidations
This distribution indicates a slight bias toward short position liquidations, suggesting that bearish bets were hit harder during this period, potentially due to unexpected price recoveries or market swings. Ethereum’s significantly higher liquidation volume compared to Bitcoin reflects its heightened volatility, possibly driven by recent network upgrades or market sentiment around altcoins.
Context and Comparison
Historical data from Coinglass and other sources provide context for this event:
On August 18, 2025, the market saw $588 million in liquidations, with short positions dominating at $504 million, indicating a bearish market flush.
On August 4, 2025, liquidations reached $182 million, with long positions accounting for $137 million, reflecting a sharp correction in bullish sentiment.
Earlier instances, such as on March 10, 2025, saw $620 million in liquidations, with Bitcoin alone accounting for $239.5 million, underscoring recurring volatility.
The $229 million liquidation event, while significant, is relatively moderate compared to these prior spikes, which ranged from $500 million to over $1 billion in 24-hour periods. This suggests that while the market remains volatile, the scale of this event is not unprecedented.
Market Implications
The near-even split between long and short liquidations ($104 million vs. $124 million) indicates a balanced tug-of-war between bullish and bearish traders. This could reflect indecision in the market or a reaction to broader economic or geopolitical factors, such as recent U.S. policy shifts or global market instability, as seen in previous liquidation events tied to macroeconomic reports like the PPI data release on August 14, 2025.
Ethereum’s $94.87 million in liquidations, nearly triple Bitcoin’s $36.43 million, may be linked to its recent price movements and the Pectra network upgrade, which has driven both optimism and volatility. Bitcoin, while less affected, remains a bellwether for market sentiment, and its relatively lower liquidation volume suggests more stability compared to altcoins.
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