$630 Million in Leveraged Positions Liquidated as Bitcoin Drops to $115,200
Crypto markets faced significant volatility in the last 24 hours, resulting in over $630 million in liquidated leveraged positions.
- Long positions were primarily affected, totaling over $580 million due to an abrupt intraday sell-off.
- Bitcoin (BTC) fell to $115,200 but retained stability compared to other major cryptocurrencies.
- Ethereum (ETH) dropped to $3,687, and XRP (XRP) fell under $3.
- Solana (SOL) decreased to $170, while BNB (BNB) eased to $780 after reaching a record above $855 last week.
- The largest single liquidation recorded was a $13.7 million ETH long on Binance.
Liquidations occur when leveraged positions are closed due to insufficient collateral, creating heightened price volatility. High total liquidations indicate possible market inflection points. Real-time liquidation data can help traders identify key support/resistance levels.
Speculative altcoins suffered steep corrections, with Solana-ecosystem tokens like Fartcoin (FART), Pump.fun (PUMP), and Jupiter (JUP) experiencing significant losses. Analysts note these movements reflect short-term momentum shifts rather than systemic market changes.
Bitcoin's stability above $115,000 is seen as crucial for maintaining market structure, supported by ETF inflows and macroeconomic factors.