Crypto Traders Facing a Huge $1b Long and Short Liquidations in the Last 24 Hours

Traders are again in panic as crypto market liquidations touched over $1.30 billion in the last 24 hours.

Closing traders’ positions have now become more tense, with crypto liquidations hitting over $1.30 billion in the last 24 hours. Investors are blaming it on the exchange platforms, calling out long liquidation and market manipulations as key reasons.  

The latest data shows 367,789 traders faced long and short position liquidations in the last 24 hours. Binance – BTCUSDT – The world’s largest cryptocurrency exchange- witnessed the largest single liquidation at the value of $20.80 million.  

Notable cryptocurrencies have gone down drastically in 24 hours following mass liquidations. Here’s what the status of Bitcoin and popular altcoins look like post-liquidation rush — 

• Bitcoin (-8.45%) 

• Ethereum (-11.78%) 

• Solana (-15.42%), XRP (-14.3) 

• Chainlink (-13.95%)  

The Bybit hacker washed out nearly $250 million worth of ETH in just four days. The same exchange is now topping the list with 96% long liquidation worth $500 million in the past 12 hours. 

Following Bybit, Binance contributed $246 million in liquidation, which is the 2nd highest level till now. Interestingly, in both exchanges, the liquidation terms are long, making it a major concern for the investors. This same pattern also got repeated for other exchanges as well.  

Traders, when anticipating price increases in the long game, go for long liquidation positions. When the price falls below the margin, crypto exchanges automatically liquidate the positions to avoid further losses.  

One prominent trader on X accused Binance of “capitulating the market.” He called it out as a predatory centralised strategy to reverse hard with market manipulation. When people stop believing in crypto and stop investing in long games, centralised exchanges will become powerful through their own strategies. He also suggested that investors remove cryptos from giant exchanges like Binance, Bybit, Okx, and Coinbase. He also suggested – “Buy the dips and HODL.” 

On the other hand, Coinank claimed that long liquidations do not offer any profit while Bitcoin prices are dropping. 

Why is Crypto Seeing Downfall? 

President Trump’s decision to add 25% trade tariffs on Canada and Mexico could possibly trigger continuous crypto downfall. It includes major coins like Bitcoin, Ethereum, and Solana. This tariff affects not only the stock but also the crypto market. 

Normally, the price of Bitcoin goes up with a large purchase. However, this time, with CEO Michael Saylor (who bought 20,356 Bitcoin), the coin price decreased.