Bitcoin Smashes $118K – $1.28B Crypto Liquidation Bloodbath Rocks Markets
Crypto traders just got steamrolled by Bitcoin's relentless rally.
As BTC punched through $118,000, exchanges saw $1.28 billion in long positions evaporate in minutes—proof that even in a bull market, leverage remains the fastest way to turn geniuses into bagholders. The liquidation cascade hit altcoins hardest, with over-leveraged degens learning the hard way that crypto doesn't do 'soft landings.'
Meanwhile, Wall Street analysts—who called Bitcoin 'dead' at $30K—are suddenly discovering 'long-term value' at triple-digit prices. Funny how price charts rewrite conviction.
The crypto landscape has gone through a sudden shift as massive liquidations have taken place over past twenty-four hours. As per latest data, the cumulative liquidations of the crypto market have reached a stunning $1.28B mark over past 24 hours amid a sheer growth. These liquidations have reportedly impacted both short and long positions, while the short traders got a severe blow in this respect.
Over $1.28B Liquidated in 24H as crypto Market Surges
Over $1.28B was liquidated across the crypto market in the last 24 hours, with $146M from long positions and $1.13B from shorts
Top exchanges by liquidations:
• @Bybit_Official: $526.8M
• @binance: $233.4M
• @HTX_Global:… pic.twitter.com/1R0jgbjQ7f
$1.28B Leaves Crypto Market, with Shorts Liquidations Valued $1.13B
The market data reveals the wipeout of a staggering $1.28B from the crypto market over the 24 hours. Out of the respective liquidation amount, just $146M was occupied by long positions. On the other hand, the short positions accounted for a massive $1.13B, signifying the intensity of the market’s recent upswing. Hence, the traders who bet against the price upsurge experienced a huge impact as the top crypto assets like Bitcoin ($BTC) as well as ethereum ($ETH) made huge gains.
Bybit, Binance, and HTX Lead Crypto Exchanges Based on 24-Hour Liquidations
Particularly, Bybit, Binance, and HTX are the top among major crypto exchanges that recorded maximum liquidations during past 24 hours. Hence, Bybit dominated the crypto exchanges in terms of liquidations, losing $526.8M. Among these liquidations, short and long positions accounted for $485.4M and $41.4M. Subsequently, Binance lost $233.4M, including $174.4M in shorts and $59M in longs. Following that, the liquidations experienced by HTX stand at $206M, with $6M seen in longs, whereas $200M witnessed in shorts.
The list of exchanges bearing liquidations during this period further includes the names of Gate.io, OKX, Hyperliquid, Coinex, Bitfinex, and BitMEX. Hence, Gate.io’s liquidations touched $157.1M, with shorts occupying $138.1M. OKX’s cumulative liquidations reached $106.3M, including $88.2M in shorts. Following that, Hyperliquid recorded $32.8M in shorts out of the total $33.8M in liquidations. Moreover, Coinex went through a liquidation of $13.9M, with shorts accounting for $12.7M. Furthermore, Bitfinex and BitMEX also recorded relatively minor liquidations of $2.2M and $1.7M.
Crypto Assets with Maximum Liquidations Include $BTC, $ETH, and $HYPE
Apart from that, according to Top 7 ICO’s data, Bitcoin recorded $677.6M in liquidations while Ethereum’s liquidations totaled at $258.7M. Similarly, Hyperliquid ($HYPE), Solana ($SOL), and Banana ($BANANAS31) experienced $43.6M, $24.6M, and $21M in liquidations. Moreover, XRP ($XRP), Dogecoin ($DOGE), Sui ($SUI), and 1000Pepe ($PEPE) witnessed $19.8M, $13.2M, $9.19M, and $9M in their liquidations respectively.
