The increasing geopolitical tension following Israel's attacks on Iran caused a total of 1.14 billion dollars in leveraged trading liquidations in the cryptocurrency market in the last 24 hours.
Rising tensions in the Middle East have increased investors' risk perception and created a sharp wave of selling in the markets. One of the most affected assets, Bitcoin (BTC) saw a decline of more than 4%, dropping to 103 thousand dollars, while Ethereum (ETH) fell over 10% to 2,468 dollars.
The wave of selling in the market caused 246,719 investors' positions to be liquidated in the last 24 hours, according to Coinglass data. The total liquidation amount was 1 billion 140 million dollars, of which 1 billion 40 million dollars was from long positions.
The majority of liquidations took place on Binance and Bybit exchanges. A total of 455.82 million dollars in positions were liquidated on Binance, while 370.85 million dollars were liquidated on Bybit. The amount of liquidations that occurred on the OKX exchange was recorded as 125.68 million dollars.
Among the most liquidated crypto assets, Bitcoin and Ethereum led the way. Bitcoin investors lost a total of 443.88 million dollars, while Ethereum investors lost 290.20 million dollars. Following these two were Solana (SOL) with 51.97 million dollars and Dogecoin (DOGE) with 25.61 million dollars.
Stay tuned for new developments.