Crypto Bloodbath as Market Liquidations Top $1.1B, Largest BTC Long of 2025 Obliterated
The crypto market faced its fiercest wipeout in months on Thursday, as over $1.15 billion in long positions were forcefully liquidated, following a sharp downturn sparked by geopolitical uncertainty and overextended bullish leverage.
The largest blow was a $200 million BTC long position on Binance, now the biggest individual liquidation seen so far in 2025. In total, 247,000+ traders were flushed out in the span of 24 hours, per Coinglass.
Bitcoin fell to $104,700, while ETH tanked 8% to $2,530. Altcoins were battered even harder, with SOL, DOGE, and XRP each falling 8% or more.
The massive flushout followed days of bullish bets after Circle’s IPO and increased interest in DeFi narratives—bets that rapidly soured as selling pressure mounted.
The episode serves as a stark reminder of the risks inherent in leveraged trading, especially in a macro environment still defined by rate uncertainty and geopolitical instability.
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