The crypto market faced another round of heavy liquidations, with $751.15 million (₱43.2 billion) wiped out in the past 24 hours as Bitcoin and Ethereum extended their declines. Nearly 256,000 traders were liquidated, with a $5.07 million Bitcoin position on BitMEX marking the largest single liquidation.
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Key Liquidation Figures (Last 24 Hours):
- Total Liquidations: $751.15M
- Longs Liquidated: $566.03M
- Shorts Liquidated: $185.12M
- Traders Liquidated: 255,747
Top Liquidated Assets:
- Ethereum (ETH): $1.44M
- Bitcoin (BTC): $1.15M
- Solana (SOL): $749.91K
- RARE: $579.58K
- XRP: $166.77K
ETH’s Price Drop Triggers DeFi Liquidation Risks
Ethereum’s sharp drop below $1,900 has created instability in the decentralized finance (DeFi) market, where ETH serves as collateral for loans.
- A major $130 million ETH-backed loan on Sky (formerly Maker) is at risk of liquidation despite additional collateral deposits.
Over $366 million in DeFi loans are vulnerable to liquidation if ETH continues to decline, potentially triggering a further selloff.
Arthur Hayes Warns of Bitcoin’s ‘Violent’ Drop to $75K
Bitcoin’s price has plummeted more than 14% in a week, with BitMEX co-founder Arthur Hayes warning of a further crash to $75,000 due to worsening market sentiment.
Hayes’ Key Predictions:
- Bitcoin could fall to $75K in a “violent” move.
- Open interest in options markets suggests further downside.
- Trump’s Bitcoin reserve announcement failed to sustain market optimism.
Trump’s Trade Policies and Crypto Summit Underwhelm Investors
Market concerns have also been fueled by President Donald Trump’s trade war escalation, with new tariffs on Canada, Mexico, and China unsettling investors. (Read more: Tariffs: What Is It and How Will It Affect Crypto Adoption?)
While the administration confirmed a U.S. Bitcoin reserve, it will only include BTC seized from criminal cases rather than newly acquired assets.
- This disappointed traders who had expected government Bitcoin purchases to support the market.
What’s Next: Traders are closely watching liquidation levels and macroeconomic developments.
This article is published on BitPinas: Quick Take: Bitcoin and Ether Drop Sparks ₱43.2B in Liquidations as Market Turmoil Continues
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