Crypto Liquidations Surge 400% to $690 Million Amid Market Drop

Bearish sentiment dominates the crypto market amid significant liquidations.

Key points:

Total daily crypto liquidations surged over 400% to $690 million, with long positions accounting for $546 million and shorts at $142 million.
Bitcoin led with $271 million in liquidations, trading around $84,000, down 2.2% in the last day.
Ethereum followed with $122 million in liquidations.
Bybit recorded $232 million in liquidations, outpacing Binance's $206 million, with the largest single order at $32 million on Binance.
The global cryptocurrency market cap is $2.75 trillion, down 2.3% over the past 24 hours.
Daily trading volume increased to $110 billion, indicating potential buying interest despite a drop in the Fear and Greed Index from 39 to 17, signaling extreme fear.
Whale profit-taking after recent Bitcoin accumulation may have triggered the selloff; wallets holding at least 10 BTC purchased 4,846 BTC last week.
A potential bullish factor includes President Trump’s executive order to establish a national Bitcoin reserve of 200,000 BTC seized from criminal activities.

Crypto Market Goes Red as $634 Million Liquidations Surface