$19.35 Billion in 24 Hours, Largest Crypto Liquidation Event Recorded
In the last 24 hours, the cryptocurrency market experienced a significant liquidation event, with 1,666,361 traders affected. Total liquidations reached $19.35 billion, marking the largest liquidation in the digital asset sector's history following a recent market rebound.
- The liquidation predominantly impacted long traders, with major cryptocurrencies like Bitcoin, Ethereum, and Solana affected.
- The largest single liquidation order occurred on Hyperliquid, valued at $203.36 million.
Contributing factors include:
- Donald Trump's announcement of potential 100% tariffs on Chinese imports, sparking concerns of an intensified US-China trade war.
- The US government shutdown delaying key economic data releases.
Market Impact
- Bitcoin dropped below $110,000 but recovered to $111,845.05, an 8.17% decrease in 24 hours.
- Ethereum fell from over $4,800 to $3,829.24, an 11.93% dip.
- Solana decreased by 14.87% to $186.54.
- Binance Coin (BNB) fell by 10.54% to $1,125.58.
This downturn primarily affected long traders who anticipated continued positive momentum.