13.06.2025 11:12

The cryptocurrency market experienced a significant downturn, with liquidations totaling $1.16 billion over the past 24 hours, impacting a staggering 247,201 traders. This substantial sell-off affected major digital assets, causing Bitcoin, Ethereum, XRP, Solana, and Dogecoin to decline between 2% and 8%. The cryptocurrency market's retreat mirrors a broader trend in financial markets, reflecting investors' growing unease about macroeconomic conditions.

Thursday saw significant losses in US stock indices, further demonstrating a reduced risk appetite among investors. This widespread market uncertainty contributed to the substantial cryptocurrency liquidation event. According to data from CoinGlass, the single largest liquidation, a massive $201.31 million in BTCUSDT, occurred on the Binance exchange. Detailed breakdowns of liquidations for major cryptocurrencies reveal the extent of the losses: Bitcoin suffered $422.22 million in long liquidations and $28.63 million in short liquidations; Ethereum saw $242.06 million in long liquidations against $56.51 million in short liquidations; Solana experienced $45.85 million in long and $6.8 million in short liquidations; and XRP recorded $21.64 million in long and $1.61 million in short liquidations.

The current crypto market crash may be linked to escalating geopolitical tensions stemming from the Israeli-Iranian conflict. This heightened uncertainty has seemingly driven investors toward safer haven assets such as gold. The global cryptocurrency market capitalization decreased by approximately 4% to $3.26 trillion within the past 24 hours, yet, paradoxically, trading volume increased by 25%, reaching $170 billion. This surge in trading volume, despite the market downturn, highlights the volatility and heightened activity characterizing the current market climate. The recent military actions in the Middle East, coupled with ongoing macroeconomic anxieties, appear to be the primary catalysts for this significant market correction.