$1.19 Billion in Crypto Liquidations Driven by Ether’s $29M Trade
- Total liquidations exceeded $1.19 billion, with longs accounting for nearly 90% of the wipeout.
- Ether saw $448 million in liquidations, while Bitcoin experienced $278 million.
- The largest liquidation was a $29.1 million ETH-USD long on Hyperliquid.
- Bybit recorded the highest overall liquidations at $311 million, followed by Hyperliquid at $281 million.
- A significant long bias of about 97% indicated aggressive positioning before the market downturn.
The recent surge in liquidations reflects a fragile market sentiment, particularly as Bitcoin fluctuates around the $111,000 mark. Traders are increasingly utilizing decentralized perpetual exchanges (DEXs), such as Hyperliquid, which have become prominent in driving these liquidation events.
With over $448 million in Ether liquidated and a notable shift towards altcoins amid market volatility, traders are adapting their strategies to seek stability and utility.(Source)
