In the latest market turbulence, $805 million worth of leveraged positions were wiped out across the cryptocurrency landscape within the last 24 hours, according to Coinglass data cited by BlockBeats.
🔍 Key Details
- Massive Leverage Unwind:
Over $700 million of the total were long positions liquidated, with the remainder from short liquidations, signaling a heavy skew toward bull-bets being forcibly closed. - Broad-Based Weakness:
This liquidation tidal wave coincides with a broader market sell-off — analysts reported $751 million wiped out, with altcoins leading the decline while Bitcoin retreated to its mid-July lows. - Market Conditions:
The downturn follows rising macroeconomic uncertainty—including persistent U.S. tariffs—and sweeping profit-taking across crypto holdings.
📉 What’s Behind the Crash?
- Longs Bears the Brunt:
A staggering amount of bullish leveraged bets were decimated, reflecting overexposure to overoptimistic positions. - Altcoins Lead the Losses:
The altcoin sector, including Ethereum, Solana, Dogecoin, and Cardano, absorbed the sharpest losses—intensifying price drop feedback loops. - Macro Pressures Mount:
A strong U.S. dollar, unchanged interest rates, and fresh trade-related regulatory headwinds have raised investor risk aversion.
🧭 What Comes Next?
- Volatility May Persist: Unless sentiment shifts, collateral damage could deepen, especially in derivatives markets where leverage remains elevated.
- Support Levels Key: Traders will be watching key price bands—such as Bitcoin’s $113,500–$114,000 range—for signs of stabilization.
- Sentiment Watch: With the Crypto Fear & Greed Index retreated toward neutral, market confidence appears fragile but not capitulated.
