The post Ether Liquidations Exceed $609 Million as Geopolitical Tensions Impact Cryptocurrency Markets appeared on BitcoinEthereumNews.com.

The recent turmoil in the cryptocurrency market has resulted in over $2.24 billion in liquidations, with Ether leading the decline amid rising geopolitical tensions. This unprecedented event saw more than 730,000 traders affected, drawing comparisons to past major crises within the crypto space. According to Joe Consorti, head of growth at Theya, the $2.24 billion liquidation event surpassed those witnessed during previous market crashes, highlighting the current instability. Cryptocurrency market faces $2.24 billion in liquidations as Ether leads the decline, raising concerns amidst geopolitical tensions and past event comparisons. Largest Crypto Exchanges Drive Liquidations Amid Market Decline In this recent market downturn, it’s reported that 36.8% of all liquidations occurred on Binance, attributed to its extensive user base and trading volumes. Other notable exchanges contributing to the total liquidations included OKX, Bybit, Gate.IO, and HTX. The volume and frequency of trading on these platforms paint a clear picture of market behavior during this highly volatile time. Liquidation Breakdown and Market Sentiment The distribution of liquidations showed that long traders bore the brunt of the downturn, losing approximately $1.88 billion, which constitutes an alarming 84% of the total liquidations. This appears indicative of a widespread belief among traders that a new bullish trend was imminent, only to face stark reality as market conditions shifted dramatically. Geopolitical Factors Impacting Crypto Market Stability The cryptocurrency market did not react in isolation; the turmoil was exacerbated by significant political announcements. When US President Trump implemented tariffs against major trading partners, top altcoins, including Ethereum (ETH) and Cardano (ADA), suffered substantial declines within just an hour. This correlation between geopolitical events and market performance underscores the fragility of digital assets in the current economic climate. Analyzing the Fear Sentiment in the Market The current investor sentiment within the cryptocurrency space reflects a state of “fear,”…

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Filed under: News - @ February 3, 2025 8:19 am