In the past 24 hours, a large-scale position liquidation occurred in the cryptocurrency market. Significant leverage positions were liquidated, primarily centered around major exchanges.
Over the past 4 hours, Bybit experienced the most position liquidations, with a total of $65.91 million (39.56%) liquidated. Among these, long positions accounted for $57.50 million, or 87.25%.
Binance was the second-highest exchange for liquidations, with $43.34 million (26.01%) of positions liquidated, of which long positions comprised $30.72 million (70.88%).
Gate saw approximately $23.08 million (13.85%) in liquidations, with the highest long position ratio among major exchanges at 88.21%. OKX experienced around $20.19 million (12.12%) in liquidations, with a long position ratio of 75.6%.
By coin, positions related to Bitcoin (BTC) and Ethereum (ETH) were liquidated the most. Over 24 hours, approximately $443.74 million in Bitcoin positions were liquidated, while Ethereum saw about $290.06 million in positions liquidated.
Bitcoin is currently trading at $104,314, down 3.16% in the past 24 hours. In the past 4 hours, long position liquidations reached $421.97 million, while short position liquidations were $21.77 million.
Ethereum is trading at $2,505.11, experiencing a significant drop of 9.29% in the past 24 hours. In the past 4 hours, long position liquidations were $244.66 million, while short position liquidations were $45.41 million.
Solana (SOL) saw approximately $52.53 million in liquidations over 24 hours, with its price dropping 9.93% to $144.01. In the past 4 hours, long position liquidations were substantial at $46.39 million.
Doge (DOGE) is trading at $0.17311, down 9.04%. In the past 4 hours, $25.91 million was liquidated from long positions and $1.62 million from short positions. Total liquidations over 24 hours were $27.53 million.
Notably, the FARTCO Token dropped significantly by 17.27% in 24 hours, with $5.89 million in long position and $1.44 million in short position liquidations over 4 hours.
The TRUMP Token is trading at $9.901, down 5.98%, with $4.29 million in long position and $15.39 million in short position liquidations over 4 hours.
This large-scale liquidation occurred alongside the recent downward trend in the cryptocurrency market, with major altcoins experiencing even steeper declines than Bitcoin, dealing a significant blow to leveraged investors. The cryptocurrency market's volatility is expected to continue, requiring investors to exercise caution.
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