The cryptography market has experienced a spectacular slowdown in the last 24 hours, with nearly a billion dollars in liquidations destroying the positions of traders.
This acute dive followed a turbulent start of the week which had already experienced $ 620.5 million in losses.
Cryptographic liquidations reach nearly a billion dollars
According to CorciLass, 334,404 merchants have been liquidated in the last 24 hours, totaling $ 947.7 million. The long positions were the most hard hit, with $ 742.2 million liquidated.
Meanwhile, short positions represented $ 205.5 million. This said that the market moved to those who expected prices to increase, which caused them greater financial losses.
Bitcoin (BTC) experienced the largest liquidation, with $ 317.9 million anneantis. This, $ 242.1 million came from long positions and $ 75.8 million in shorts. Ethereum (ETH) behaved similarly, with $ 248.2 million in liquidations, including $ 196.4 million from long positions.
Adding fuel to fire, significant cryptocurrency movements by the main players have intensified the fears of a larger sale.
According to Arkham Intelligence, MT. Gox, the deceased exchange distributing assets to creditors, transferred 11,834 BTC – estimated about 931.1 million dollars – to an unknown address.
A few hours after that, Mount Gox’s cold portfolio again transferred 332 BTC worth $ 26.6 million to another address. These transfers occurred shortly after its previous movement of 12,000 BTC worth $ 1 billion at the time.
In addition, spot on the channel observed That after five months of dormancy, an Ethereum Ico whale deposited 7,000 ETH worth $ 12.9 million in Kraken while the price has dropped. The whale still contains 30,070 ETH ($ 54.4 million) in its wallet.
In addition, the capital of length transferred 21,000 ETH ($ 38.8 million) in Binance. In a separate incident, a whale sold 25,800 ETH has a loss of $ 31.7 million to prevent new liquidation.
The last wave of volatility was launched by the comments by President Donald Trump, who referred to an imminent recession.
“Listen, we are going to have disturbances, but we agree with that”, Trump said Fox News.
His remarks have sent shock waves through the financial markets, the actions falling down and the cryptocurrencies carrying the weight of the fallout. According to Kobeissi’s letter, an eminent financial newsletter, the decline has erased the announcement rally of the post-American reserve. The cryptocurrency market fell 1.3 billion of dollars from its peak on December 17, 2024.
“Not only does this mean that the crypto bear market started, but it is also down 35% in three months”, job read.
In particular, Bitcoin, the main digital asset, fell at $ 76,600 today. This marked its lowest level in four months. He had recovered slightly at $ 79,939 at the time of the press, still down 3.2% in the last day.
According to Beincrypto data, Ethereum has dropped 8.4% in the last 24 hours. At the time of the press, he negotiated at $ 1,895. This drop marks the lowest price level for cryptocurrency since the end of 2023, reflecting a significant slowdown in its value.
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