17-8-2025 – The cryptocurrency market saw $261 million in contract liquidations over the past 24 hours, with Ethereum and Bitcoin bearing the brunt, according to data from Coinglass. Of the total, short positions accounted for $190 million, while long positions saw $70.7 million wiped out, reflecting intense market volatility.
Ethereum led the losses with $115 million in liquidations, driven by a sharp price drop that caught leveraged traders off guard. Bitcoin followed with $29 million in liquidations as its price fell below $118,000, signaling a broader market retreat. The heavy skew toward short liquidations suggests traders betting against a rally were hit hardest, likely due to sudden price swings following macroeconomic triggers.
Analysts point to recent U.S. economic data, including higher-than-expected inflation figures, as a catalyst for the downturn. The market’s fragility was compounded by high leverage in altcoin derivatives, amplifying the liquidation cascade. This event marks one of the largest single-day liquidations in 2025, underscoring the risks of overleveraged positions in a volatile environment.
