The post BTC, ETH Lead $403M Crypto Liquidations, What Next? appeared on BitcoinEthereumNews.com.

The crypto market is urgently bleeding, with massive liquidations recorded so far. About $403 million in Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies have exited exchanges within 24 hours. This market recorded these losses as volatility moved against futures traders. According to Coinglass, about 117,342 traders were liquidated, leading to a total liquidation of $305.80 million at this time. The most significant single liquidation (ETH/USDT) happened on the leading cryptocurrency exchange, Binance, valued at $12.01 million. Current Liquidation Figures for BTC and ETH Notably, a significant portion of this liquidation came from long traders who had forecasted a possible recovery for the crypto market. – Advertisement – In other words, these traders were betting on a bullish price retracement for these cryptocurrencies. Out of $305.80 million recorded, $216.23 million came from long traders, leaving short traders with a liquidation worth $89.57 million. $84.68 million worth of BTC was liquidated, $76.16 million in ETH, $11.37 million in Dogecoin (DOGE), and $10.6 million in Solana (SOL). These massive liquidations were likely fuelled by the market performance of most of the digital assets. At the same time, Ethereum’s liquidation may have been partly influenced by the Bybit hacker case. However, the trends in the broader market suggest that a more significant issue may be at play, thereby forcing traders out of positions due to insufficient margin. A continuous rise in volatility may cause crypto enthusiasts and investors to raise concerns about market stability. Bitcoin and Ethereum Price Outlook Market data shows that Bitcoin price trades at $96,510.68, following a 1.75% price dip. For a coin that had previously attained an All-time-high (ATH) of over $109,000, this current BTC price level is a major drawdown. On the other hand, Ethereum is resting on the green side of on-chain charts, trading at $2,778.04. The leading altcoin has…

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Filed under: News - @ February 23, 2025 8:11 pm