Binance Traders Face $183M Liquidation Storm as Crypto Volatility Spikes

The cryptocurrency market experienced significant turbulence over the past 24 hours, with leveraged traders on Binance and other exchanges facing massive liquidations totaling $183 million. As Bitcoin and Ethereum prices swung violently, over 66,000 traders were caught in the crossfire - particularly those holding short positions. Ethereum led the liquidation tally with $64 million wiped out, followed by Bitcoin at $30 million, including a single $12.33 million position that was liquidated. This market shakeout highlights both the risks and opportunities in crypto trading during periods of heightened volatility, with Binance traders needing to carefully manage their risk exposure in these turbulent market conditions.

Crypto Market Sees $183M in Liquidations Amid Volatile Trading

The cryptocurrency market witnessed $183 million in liquidations over the past 24 hours as Bitcoin and Ethereum experienced sharp price swings. Leveraged traders were caught off guard, with short positions accounting for the majority of the wipeouts.

Ethereum led the liquidation tally at $64 million, followed by Bitcoin at $30 million. Data from Coinglass shows 66,673 traders were affected, including a single $12.33 million ETH-USDT position on Binance.

Bitcoin currently trades near $108,200 after touching $109,000 earlier, while ethereum hovers around $2,530 following a $2,589 peak. Market sentiment remains fragile as traders weigh whether to re-enter with leverage or wait for stability.

Bonk Price Surges 9% Following Binance.US Tease, Eyes $0.000025 Resistance

Bonk (BONK) rallied 9% to $0.00002330 after Binance.US posted a bat-swinging meme reminiscent of the token's viral origins. The Solana-based meme coin has outperformed peers with 49.9% monthly gains, fueled by speculation of renewed collaboration with the exchange where it listed in November 2024.

Technical charts show BONK breaking a descending channel with strong volume, retesting the upper trendline as traders eye $0.000025. The momentum coincides with a community-led countdown to burn 1 trillion tokens - a deflationary mechanism that could further propel prices.

While Dogecoin and Pepe saw modest gains, BONK's Solana-native architecture and exchange backing position it uniquely in the meme coin arena. Market participants now watch whether Binance.US's cryptic social activity precedes tangible platform developments.

Nigerian Scammer Poses as Trump Ally to Steal $250K in Crypto from Political Donor

A Nigeria-based fraudster impersonating Steve Witkoff, a prominent ally of former U.S. President Donald Trump, siphoned $250,000 in cryptocurrency from a political donor. The scammer used a spoofed email resembling Witkoff’s legitimate Trump-Vance Inaugural Committee address to deceive the victim into sending USDT.ETH.

Authorities traced half of the stolen funds—40,300 USDT.ETH—to a Binance account linked to Lagos-based fraudster Ehiremen Aigbokhan. The U.S. Attorney’s Office recovered and froze these assets, with plans to return them to the victim. Over $210,000 remains missing, highlighting the challenges of tracking crypto transactions on the blockchain.

U.S. Attorney Jeanine Ferris Pirro warned donors to verify recipient addresses meticulously, emphasizing the difficulty of recovering lost crypto funds due to blockchain complexity. The case underscores the risks of social engineering attacks in the digital asset space.