Crypto Market Shakes: Record-Breaking Single-Day Liquidation Hits 1.6M Traders
In an unprecedented wave of forced exits, the crypto market just endured the largest single-day liquidation event ever recorded — over 1.6 million traders were swept up as major tokens plummeted. (Coindoo)
According to data compiled by CoinGlass and reported via Coindoo, nearly $16.75 billion in long positions were liquidated, while another $2.47 billion in shorts were closed out. (Coindoo) The single biggest trade wiped was an ETH-USDT position on Hyperliquid, estimated at $203 million. (Coindoo)
Bitcoin, Ethereum, and Solana plunged to multi-week lows, triggering cascades of margin calls across exchanges. (Coindoo) The drop exposed vulnerabilities of leveraged trading in volatile markets — one sudden move can set off ripples.
While comparisons to past liquidation storms emerge, this event sets a new high in scale. Observers point out that such extremes often herald market resets or short-term capitulations, not necessarily trend reversals.
Conclusion
This historic liquidation underscores how fragile leveraged markets can become under stress. When sentiment shifts sharply, even large players get forced out. While turmoil now, such dramatic cleanses can also pave the way for clearer price discovery ahead.
Takeaways
- Over 1.6 million traders were liquidated in a single day.
- $16.75 billion (longs) and $2.47 billion (shorts) were wiped.
- The largest single trade liquidated: ETH-USDT, ~$203 million.
- Key tokens (BTC, ETH, SOL) hit multi-week lows under pressure.
- Highlights the risks of high leverage in volatile crypto markets.
Source: Coindoo.com
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