The crypto market was hit by a sharp wave of liquidations, with over $226 million wiped out in just one hour, according to the latest data.
The overwhelming majority of the losses came from long positions, which accounted for more than $218 million, while shorts saw only about $8 million liquidated.
Ethereum traders bore the brunt of the impact, with more than $107 million in ETH positions closed, making it the largest single-asset liquidation event of the day. Bitcoin followed with over $55 million liquidated, while Solana, XRP, and BNB also faced notable wipeouts of $10.1 million, $5.5 million, and $5.6 million respectively.
The mass liquidations coincided with a broader market downturn. Bitcoin fell below $111,000, sliding 3.3% in the past 24 hours and over 6% on the week. Ethereum dropped even harder, losing 6.5% in 24 hours and 15% over the past seven days, trading near $3,905. Solana faced one of the steepest declines among major altcoins, down more than 21% on the week to $196.
Other top cryptocurrencies also posted heavy losses. XRP slipped nearly 6% in a day, Cardano tumbled 6.5%, and Dogecoin was down over 8%. Across the board, altcoins showed weakness, amplifying pressure on leveraged long traders.
With nearly all major tokens flashing red and over $200 million in longs erased in one hour, analysts warn that markets may remain volatile in the short term. High leverage continues to play a pivotal role in intensifying moves, leaving traders vulnerable to sudden liquidation cascades.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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Source: https://coindoo.com/crypto-bloodbath-226m-wiped-out-in-an-hour-longs-take-the-biggest-hit/
