The cryptocurrency market has been rocked by a significant wave of liquidations, with leveraged positions totaling over <b>$447 million</b> being wiped out in a single day. This abrupt market downturn has particularly impacted major cryptocurrencies like <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="nofollow noopener">Bitcoin</a> (BTC) and Ethereum (ETH), raising concerns about the stability of the recent market rally. The incident serves as a sharp reminder of the high volatility and inherent risks of trading with leverage.
<h2>Ethereum and Bitcoin Bear the Brunt of Liquidations</h2>
<a href="https://www.cryptoknowmics.com/news/ethereum-whales-reorganize-amid-major-eth-sell-off/" target="_blank" rel="noopener">Ethereum</a> was the hardest hit in the crash, accounting for a substantial portion of the losses with over <b>$176 million</b> in liquidated positions. Bitcoin followed closely behind, with over <b>$101 million</b> in leveraged shorts and longs being closed out. The ripple effect was also felt by other large-cap coins, including XRP and Solana (SOL), which collectively saw liquidations exceeding <b>$25 million</b>. The majority of this financial damage occurred on major exchanges, particularly Bybit and Binance, where traders' leveraged bets were rapidly undone by the price swings. The market's fragility is now in the spotlight, with analysts watching closely to see if key support levels can hold amidst the continued selling pressure.

Crypto Market Sees $450 Million Wiped Out as Bitcoin and Ethereum Take a Hit

Over $450 million in crypto leveraged positions were liquidated, with Bitcoin, Ethereum, and XRP seeing major losses.

Crypto Market Sees $450 Million Wiped Out as Bitcoin and Ethereum Take a Hit

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