FameEX Hot Topics | Over $1B in Leveraged Crypto Positions Liquidated as BTC Falls Below Key Level

Over the past 24 hours, more than $1 billion in cryptocurrency positions were liquidated as Bitcoin’s price fell below the $99,000 mark, a level it had not breached in over six weeks. This drop triggered a massive wave of liquidations across the market, highlighting the volatility that crypto traders are facing.

According to Coinglass data, a total of $1.03 billion in leveraged positions were wiped out in just one day. The bulk of these liquidations, approximately $921.39 million, came from long positions, while $108.75 million was from short positions. The dominance of long position liquidations suggests that many traders had bet on bitcoin’s price continuing its rise, only to be caught off guard by the sudden downturn.

In the last 12 hours alone, $409.63 million in positions were liquidated, followed by another $350.43 million in the next four hours. These rapid liquidations underscore the heightened volatility in the crypto market, with prices experiencing sharp swings over the weekend.

Coinglass data also revealed that approximately 240,979 trades were liquidated. The overwhelming majority of these trades were long positions, which reflect traders' expectations that bitcoin would maintain its upward trajectory. However, the unexpected drop in price left many traders unprepared, leading to widespread losses.

The market's extreme volatility was influenced by increasing geopolitical and macroeconomic tensions, which have been affecting investor sentiment. As bitcoin and other cryptocurrencies continue to react sensitively to these external factors, the recent market turmoil serves as a stark reminder of the risks involved in highly leveraged trading. These events emphasize the need for caution, as rapid price movements can quickly trigger large-scale liquidations.

Disclaimer: The information provided in this section is for reference only and does not represent any investment advice or the official views of FameEX.