Crypto Liquidation Hit $542 Million Amid Bitcoin-Fueled Market Bloodbath

Crypto Market Faces Turbulence as Bitcoin Dips Below $109,000

The digital currency sector's bullish rally has hit a minor roadblock, with Bitcoin losing critical support after reaching a new all-time high of $111,970.17. The drop below $109,000 has triggered a significant liquidation event across the market.

Data from CoinGlass reveals $544.62 million in liquidations over the past 24 hours, with long-term traders suffering the most—recording $402.25 million in losses as the bullish momentum stalled.

• Bitcoin liquidations totaled $139.44 million, with long positions accounting for $113.62 million and shorts losing $25.82 million.
• Trading volume plunged 32.19% to $63.95 billion, reflecting weakened market sentiment.

At the time of writing, Bitcoin trades at $108,426, marking a 2.63% decline.

The altcoin market has also felt the impact, with Ethereum leading the losses. ETH saw $137.67 million in liquidations, $100.74 million of which came from long positions.

XRP, which had been eyeing the $3 mark, recorded $11.38 million in total liquidations—$10.47 million from longs and $910,000 from shorts. Its trading volume dropped by $300 million in 24 hours, signaling reduced institutional interest or declining user activity.

Analysts are watching Bitcoin closely, as a recent mini-golden cross suggests potential for a price rebound that could lift the broader crypto market.