The crypto market just witnessed about 186 million USD getting liquidated in 24 hours as volatility spiked, with Bitcoin leading the charge and Ethereum also facing pressure.
This trend shows that leverage is still dominating the market, while the big money flow in Bitcoin and the supply on the exchange for Ethereum are heading in opposite directions. Investors need to keep an eye on whether the sell pressure will spread or if the market is just undergoing a short-term rebalancing.
MAIN CONTENT
About $186 million in positions were liquidated in the last 24 hours, reflecting strong market volatility.
Bitcoin faced $34.97 million in liquidations, while Ethereum saw $24.65 million.
Whales sold over 70,000 BTC, while ETH balances on exchanges decreased by about 500,000 ETH.
Liquidations spiked as the market reversed.
About $186 million in positions were liquidated in the past 24 hours. Longs accounted for $102.8 million and shorts for $83.2 million, indicating that both sides were caught up in the volatility.
Bitcoin led the liquidation wave with $34.97 million, followed by Ethereum at $24.65 million. This distribution reflects a state of uncertainty rather than a clear trend.
Bitcoin whales are selling, but spot ETFs continue to attract capital.
Bitcoin is under pressure from whale distribution, but buying strength from spot ETFs in the US hasn't faded. Over the past month, whales have dumped more than 70,000 BTC while Bitcoin traded below previous highs.
On the flip side, US spot Bitcoin ETFs recorded a net inflow of $85.85 million on June 12. This divergence helps explain why Bitcoin is weak but hasn't fallen into widespread capitulation.
Ethereum reduced the amount of coins on exchanges.
Ethereum shows a contrasting picture to Bitcoin as ETH on exchanges decreases. The exchange balance dropped from around 15.5 million ETH to about 15.0 million ETH during the same period.
Approximately 500,000 ETH, worth nearly $800 million, has left exchanges in a week. This reduces the available ETH for sale, even though the overall market sentiment remains weak.
The gap between Bitcoin and Ethereum indicates that selling pressure is more pronounced in BTC, while ETH supply on exchanges continues to contract. These two trends make it difficult for the market to form a consensus signal in the short term.
Summary
The latest liquidation shows the market is still sensitive to leverage, while Bitcoin and Ethereum are reacting to differing supply and demand dynamics. The next move will likely depend on whether ETF buying strength or whale distribution pressure dominates.
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