Massive $709M Crypto Liquidation as BTC, ETH, XRP, SOL & DOGE Lead the Decline
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| Massive $709M Crypto Liquidation as BTC, ETH, XRP, SOL & DOGE Lead the Decline |
The cryptocurrency market witnessed a sharp correction over the past 24 hours, resulting in over $709 million in liquidations. Leading this dramatic pullback are major assets including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Dogecoin (DOGE).
Bitcoin (BTC) Drops Below $115K Amid Surge in Liquidations
According to data from CoinGlass, the total crypto market cap fell to approximately $3.70 trillion, with Bitcoin dipping below the $115,000 mark for the first time in several trading sessions. BTC liquidations alone accounted for $162.84 million, with $152.68 million in long positions and $10.16 million in shorts wiped out.
In just the last 12 hours, Bitcoin liquidation reached $75.22 million, dragging its price down to $113,507 at the time of writing — a 1.60% drop. Meanwhile, trading volume has surged 2.80%, hitting $78.99 billion, as per CoinMarketCap.
Ethereum (ETH) Sees Highest Liquidation in 12 Hours
Ethereum saw a notable plunge as its price approached $4,000, triggering a total liquidation of $265.71 million — with $234.25 million in long positions and $31.46 million in shorts.
In the past 12 hours alone, ETH topped the liquidation chart with $140.73 million, including a massive $126.67 million in longs. The largest single liquidation order occurred on Binance, where $4.45 million in ETH/USDC was liquidated.
Solana (SOL) and XRP Face Heavy Long Liquidations
Solana experienced $40.27 million in total liquidations, with only $4.10 million from shorts — a clear sign that long traders bore the brunt of the sell-off. Over the last 12 hours, liquidation for SOL reached $25.48 million, pushing the price to trade near the $160 level.
Similarly, XRP saw $28.03 million in liquidations, including $22.67 million in longs and approximately $7 million in shorts. This volatility pushed XRP’s trading price below $2.91, after it briefly reached $3.05.
Dogecoin (DOGE) Matches Top Altcoins in Sell-Off
Dogecoin, the leading memecoin, joined the liquidation spree with $25.39 million wiped out in 24 hours. Of that, $22.38 million were long positions, and just $3.01 million were short trades.
