Bitcoin plummeted once again, hitting $102.4k before attempting a recovery, but it influenced a broader crypto market crash. The geopolitical tension and the unsupportive macroeconomic events have put a strain on investors’ trading strategies. Moreover, crypto prices have been severely affected. As a result, the crypto traders lost $458M in liquidation in the last 24 hours alone, and more is at risk. Let’s discuss.
$458M Wiped Out in Liquidation With the Crypto Market Crash
In the last few days, the trajectory of the digital assets has been either consolidating or bearish. The same is true today, as Bitcoin’s decline resulted in a broader crypto market crash, wiping out $458M in liquidation.
Per CoinGlass data, 124,286 traders were liquidated in the last 24 hours, resulting in a $458M liquidation loss. The prime liquidation is in Ethereum, Bitcoin, Solana, XRP, and others, and the longs have been closed, as their price declines.
Today, BTC price has declined 2%, ETH has lost 4%, and XRP has lost 1.5% of its value, resulting in traders’ long liquidation. Exchange data also reveals that out of the $458M liquidation, $412M was of longs and nearly $45M in shorts.
80-85% Long Trades & Other Factors Hint At Further Crypto Market Crash
The Kingfisher charts reveal that most crypto coins are prone to long liquidations, as the majority of bets are bullish. Moreover, their report has acknowledged that these tokens are prone to dip amid a broader cryptocurrency market crash, which could fuel their liquidation.
Additionally, $4B BTC options expire today, June 21, with a max pain point at $105k. A much bigger expiry is coming on June 27, 2025, with $14.2B notional value at $100k. If the Bitcoin price remains down to the maximum pain, selling pressure could build.
However, if it goes past the expiration level, a short squeeze might form. Overall, uncertainty is looming, especially around a crypto market crash. The Israel-Iran conflict is still active, and the US has hinted at joining the war, so more is at risk.
Frequently Asked Questions (FAQs)
The geopolitical tension and macroeconomic events like the FOMC meeting and others are influencing the crypto market these days.
The long positions constitute the major liquidation, totaling $412M out of $458M.
The crypto market is highly volatile, and there’s high uncertainty amid the ongoing geopolitical tension. The crypto market can continue to crash if the bullish momentum does not build.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section.
Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights.
Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry.
When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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