Over $300M Liquidated in Four Hours as Bitcoin, Ethereum Prices Nosedive
Crypto markets were thrown into chaos earlier today as Bitcoin and Ethereum prices plunged sharply, triggering a massive wave of liquidations. Within just four hours, over $300 million was wiped out across major exchanges, hitting traders—especially those holding leveraged long positions—the hardest.
According to data from Coinglass, total liquidations over the past 24 hours reached nearly $472 million, with the bulk—about $286 million—coming from long positions closed during the steep four-hour decline. Short positions accounted for a much smaller share, at roughly $14.75 million.
The selloff sparked a rapid cascade of stop-loss orders and forced closures, compounding the price drop. Unusually, Ethereum long trades accounted for a significant portion of the damage this time, surpassing even Bitcoin in liquidation share. Bitcoin briefly fell to $102,400, while Ethereum dropped more than 4%, to around $2,380.
The downturn began around midday U.S. trading hours and coincided with a surge in geopolitical concerns tied to tensions in the Middle East. At the same time, market jitters increased following reports of possible new tariffs proposed by Donald Trump, triggering a broader retreat from risk assets, including cryptocurrencies.
While the drawdown has rattled many investors, some analysts argue the event may serve as a healthy reset, clearing out excessive leverage and setting the stage for more stable growth. Still, the abrupt losses are a stark reminder of how risky highly leveraged crypto trading can be in a market prone to sudden shocks.
