12.06.2025 23:21

The cryptocurrency market suffered a significant downturn on Thursday, marked by a dramatic surge in long position liquidations. Bitcoin, Ethereum, Dogecoin, and Solana experienced the most substantial losses, underscoring the heightened volatility and risk aversion among investors.

Within a single hour, over $320 million in long bets were liquidated, a stark indicator of the market's fragility. This massive sell-off was particularly pronounced on Binance, where a staggering $201 million in long positions were eliminated, according to data from CoinGlass. This highlights the extent of the market correction and the significant impact on leveraged trading strategies.

Bitcoin, the dominant cryptocurrency, bore the brunt of the losses, experiencing approximately $317 million in liquidations within a 24-hour period. A significant portion, roughly $306 million, resulted from the unwinding of long positions. This sell-off pushed Bitcoin prices below $106,200, representing a nearly 3% daily decline. Despite this sharp drop, Bitcoin remains relatively resilient, sitting only about 5% below its all-time high of $111,814 reached in May, and still showing a modest weekly gain of around 5%.

Ethereum fared even worse, with daily liquidations reaching $151 million. Its price plummeted by over 6%, settling near $2,650. However, similar to Bitcoin, Ethereum maintained a positive weekly performance, up approximately 9% due to prior gains. The sheer magnitude of these liquidations across various cryptocurrencies underscores the precarious nature of highly leveraged trading strategies in the current volatile market conditions. The significant losses experienced indicate a growing concern among investors about further price corrections.