– Ether, Dogecoin Lead $1.5B Liquidation as Bitcoin Dips Below $112K

Over $1.5 billion in bullish crypto trades were liquidated, leading to a significant sell-off affecting smaller tokens the most.
Ether dropped 9% to $4,075 with nearly half a billion dollars in leveraged long positions liquidated. It is currently 6% lower over 24 hours.
Bitcoin fell almost 3% to $111,998 before a slight recovery.
Dogecoin (DOGE) led losses among major tokens with a 10% drop. Solana's SOL, Cardano's ADA, BNB Chain's BNB, and Tron's TRX saw losses of at least 5% in 24 hours.
407,000 traders were liquidated within 24 hours, marking the highest such losses recently.
Liquidations occur when leveraged positions exceed margin thresholds, often causing significant losses and cascade effects during volatility.
Liquidation data is used to assess market sentiment; large long liquidations can indicate panic bottoms.
The current macroeconomic environment remains uncertain despite a recent Federal Reserve interest rate cut.
Nassar Achkar from CoinW noted that upcoming U.S. economic data and Fed signals are critical for market trajectory, potentially affecting Ethereum and the broader DeFi sector.
Investors are monitoring U.S. PMI data and jobless claims, as well as Powell’s upcoming speech, which could influence risk appetite and altcoin pressure.