$400 million wiped out in a night, a full market panorama review

In the past 24 hours, the crypto market experienced a bloodbath. According to Coinglass data, the total liquidation amount across the network surged to $407 million, with long positions accounting for over 80%, and nearly 100k traders forced to liquidate. In just one night, countless high-leverage positions vanished into thin air.

The trigger for this plunge was a sudden geopolitical event. The White House denied reaching a "memorandum of understanding" with Iran, combined with news of U.S. military operations in southern Iran, sparking panic selling in the market. Bitcoin briefly fell below $74,500, touching a low of $72,800, losing the widely regarded "bulls' lifeline" psychological support level of $73,000.

Within 24 hours, Bitcoin alone was liquidated for about $365 million, Ethereum for approximately $242 million, XRP for around $19.22 million, and other altcoins combined exceeded $90 million in liquidation. Additionally, market data shows the total liquidation amount reached as high as $959 million, with over 160k traders liquidated, and long positions totaling $900 million, while short positions were only about $61.3 million.

The market has demonstrated a lesson with real money: high leverage combined with black swan events, and even thick margins are not enough.

#24H Crypto Contract Liquidations Exceed $400 Million
$BTC