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Crypto market wipeout liquidates over 250,000 traders as $1.67 billion vanishes

More than 254,000 crypto traders were liquidated in a 24-hour span as $1.67 billion in positions was wiped out, heavily concentrated in long bets on Bitcoin and Ethereum.

A treemap chart displaying cryptocurrency liquidations across assets including Bitcoin, Ethereum, Solana, and XRP.
Image: @MartiniGuyYT

A severe market downturn wiped out 254,045 cryptocurrency traders over a 24-hour stretch, eliminating roughly $1.67 billion in positions, according to data highlighted by Whale Insider and Crypto Briefing. The outlet noted that the cascade of forced closures highlights the severe hazards of trading with high leverage in volatile markets while underscoring the critical need for exchange security.[2][3]

The vast majority of the damage fell on bullish traders. According to market commentator That Martini Guy, $1.46 billion of the $1.67 billion liquidated came from long positions following a drop he attributed to a Binance hack. Long liquidations across Bitcoin and Ethereum accounted for nearly $1 billion of the carnage on their own.[1]

Liquidation heatmaps shared by That Martini Guy show Bitcoin suffering $553.70 million in liquidations, with 83.4% of those on long positions. Ethereum saw $355.14 million wiped out, of which 87.8% were longs. Other notable liquidations included $84.24 million in Solana and $39.22 million in XRP, alongside cross-market liquidations in assets such as gold, silver, SanDisk, and Intel.[1]

Key facts

  • A total of 254,045 crypto traders were liquidated over a 24-hour period.
  • Total liquidations across positions reached $1.67 billion over the 24-hour span.
  • Long positions accounted for $1.46 billion of the total liquidations, according to That Martini Guy.
  • Bitcoin and Ethereum long liquidations alone made up nearly $1 billion of the total.
  • Bitcoin saw $553.70 million in liquidations (83.4% long) and Ethereum saw $355.14 million (87.8% long).
  • Other major asset liquidations included $84.24 million in SOL and $39.22 million in XRP.

Sources · 3 sources

  1. TM

    That Martini Guy ₿@MartiniGuyYTPost on X ·

    $1.67 billion in positions have been liquidated in the past 24 hours $1.46 billion of that figure came from longs following the Binance hack, which fueled the drop Bitcoin & Ethereum long liquidations made up almost $1 billion alone https://t.co/RKUk03JIZF

    Open source
  2. WI

    Whale Insider@WhaleInsiderPost on X ·

    JUST IN: 254,045 crypto traders liquidated in the past 24 hours. https://t.co/jQHNPdOqY6

    Open source
  3. CB

    Crypto BriefingArticle ·

    254,045 crypto traders liquidated in 24 hours as $1.67 billion in positions wiped out The mass liquidations highlight the risks of high leverage in volatile markets and underscore the importance of robust security measures in exchanges. The post 254,045 crypto traders liquidated in 24 hours as $1.67 billion in positions wiped out appeared first on Crypto Briefing .

    Open source