Crypto Market Sees $615M Liquidations as Ethereum and Bitcoin Lead the Wipeout
The cryptocurrency market has endured a major flush-out over the past 24 hours, with total liquidations surging to $614.75 million.
The move was heavily skewed toward long positions, which accounted for $533.52 million of the total, while shorts saw a far smaller $81.23 million in losses, according to data from CoinGlass.
Ethereum emerged as the biggest casualty, with a staggering $233.71 million in positions wiped out — $200.79 million of which were long bets. Bitcoin followed with $134.40 million in liquidations, dominated by $125.45 million in longs. Together, these two top cryptocurrencies made up nearly 60% of the market’s total liquidations.
Other major assets also saw significant position closures. Solana recorded $35.63 million in liquidations, while Dogecoin and XRP faced $23.40 million and $20.35 million respectively. Altcoins across the board were not spared, with over $53 million in liquidations spread across the broader market.
The spike in liquidations comes amid continued market volatility, with Bitcoin hovering around $113,800 and Ethereum trading near $3,511. Both assets have posted weekly losses — down 3.49% for BTC and 6.22% for ETH — signaling sustained selling pressure.
With leveraged long traders bearing the brunt of this latest move, analysts warn that the market could remain unstable if prices fail to recover key support levels. For Ethereum, that threshold sits near $3,500, while Bitcoin traders are watching the $113,000 zone closely.
If the sell-off extends, another wave of liquidations could follow, further amplifying volatility and potentially pushing prices lower in the short term.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
