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Crypto Market Faces 238 Million USD Total Liquidation Surge
Market data from Coinglass reveals a significant total liquidation event across the crypto network, with liquidations reaching 238 million USD over the latest trading session. The total liquidation was heavily concentrated in major cryptocurrencies, with Bitcoin (BTC) accounting for the majority at 109 million USD in liquidations, followed by Ethereum (ETH) at 51.18 million USD.
According to Odaily Planet Daily, this wave of total liquidation reflects substantial shifts in market positions as traders adjust their leveraged holdings. The scale of these liquidations suggests intense volatility across major trading pairs. With BTC's 24-hour trading volume standing at 546.11 million USD and ETH's at 306.54 million USD, the total liquidation volumes represent a meaningful portion of overall market activity, highlighting significant liquidation pressure on leveraged positions during this period.