The Cost Has Been Heavy for Bitcoin and Altcoins: More Than 1 Billion Dollars Wiped Out!
The increasing geopolitical tension following Israel's attacks on Iran has led to a total of 1.14 billion dollars in leveraged liquidations in the cryptocurrency market over the last 24 hours.
Heightened tensions in the Middle East have raised investors' risk perceptions and created a wave of sharp selling in the markets. Among the assets most affected by this situation, Bitcoin (BTC) fell by more than 4%, dropping to 103,000 dollars, while Ethereum (ETH) saw a decline of over 10%, falling to 2,468 dollars.
According to Coinglass data, the selling wave in the market caused 246,719 investors' positions to be liquidated in the last 24 hours. The total liquidation amount reached 1 billion 140 million dollars, with 1 billion 40 million dollars coming from long positions.
The majority of liquidations occurred on the Binance and Bybit exchanges. A total of 455.82 million dollars worth of positions were liquidated on Binance, while Bybit saw 370.85 million dollars in liquidations. The amount of liquidations recorded on the OKX exchange was 125.68 million dollars.
Bitcoin and Ethereum led the way among the most liquidated cryptocurrencies. Bitcoin investors lost a total of 443.88 million dollars, while Ethereum investors lost 290.20 million dollars. Following them were Solana (SOL) with 51.97 million dollars and Dogecoin (DOGE) with 25.61 million dollars.
