Key Takeaways
Ethereum liquidations reached $356 million over 24 hours, exceeding Bitcoin's $298 million.
ETH liquidations were approximately six times larger relative to market capitalization than Bitcoin's.
Total crypto liquidations reached $1.19 billion, with more than $1 billion involving long positions.
Solana recorded $71 million in liquidations, followed by XRP at $34 million and NEAR at $25 million.
Bitcoin subsequently recovered toward $82,200, triggering a wave of short liquidations.
Ethereum Traders Hit Hardest by Crypto Liquidations
Ethereum recorded approximately $356 million in leveraged position liquidations over 24 hours as a broader cryptocurrency selloff triggered $1.19 billion in forced closures.
Bitcoin accounted for $298 million in liquidations, despite having a market capitalization more than five times larger than Ethereum's.
Relative to market size, ETH liquidations reached approximately $1.2 million per $1 billion of market capitalization, compared with around $180,000 for Bitcoin.
The largest individual liquidation was an Ethereum position worth nearly $20 million on Hyperliquid.
Bitcoin Selloff Triggers Over $1 Billion in Long Liquidations
More than $1 billion of the total liquidations involved long positions, reflecting the impact of falling prices on leveraged bullish trades.
Ethereum declined more than 3% to approximately $2,490, while Bitcoin fell from around $83,200 to a low near $80,400.
The selloff followed renewed concerns about U.S. interest rates and geopolitical tensions involving Iran, alongside heightened discussion of potential cryptographic security risks.
Other major liquidations included Solana at $71 million, XRP at $34 million and NEAR at $25 million.
Bitcoin Recovery Triggers Short Liquidations
Bitcoin later recovered toward $82,200 after President Donald Trump said the United States would not strike Iran before the November midterm elections.
The rebound forced traders holding bearish positions to close leveraged bets.
Approximately 78% of the $25 million liquidated over the subsequent four hours came from short positions. In the latest one-hour period cited, shorts accounted for nearly $12 million of approximately $13 million in liquidations.
The volatility comes ahead of the anniversary of the October 10, 2025 crypto market crash, when approximately $19 billion in positions were liquidated in one day.