The crypto market recorded its biggest intraday liquidation during the past 24 hours. According to market data analysis from CoinGlass, the total crypto liquidations during the last 24 hours surged by over 3,084% to around $19.3 billion at press time.
The crypto market recorded its biggest intraday liquidation during the past 24 hours. According to market data analysis from CoinGlass, the total crypto liquidations during the last 24 hours surged by over 3,084% to around $19.3 billion at press time.
More than 1.6 million traders were rekt today, with long traders losing nearly $17 billion compared to $2.5 billion by short traders. The largest recorded single liquidation order today happened on Hyperliquid involving an ETH/USDT pair valued at around $204 million.
According to CoinGlass, the total crypto liquidations today could be much higher than what was reported. Furthermore, CoinGlass noted that Binance only reports one liquidation order per second, despite being the largest centralized exchange (CEX) by daily traded volume.
Following the heavy crypto liquidations today, the number of open traders with open positions on Hyperliquid dropped from 50k to 20k.
During the past five years, the crypto market has recorded several major forced liquidations including:
The main reason why the crypto market experienced its biggest crash in history was due to a renewed feud between the United States and China. On Friday, President Donald Trump that the U.S. will impose a 100% tariff on China-made goods beginning November 1, 2025.
With the ongoing U.S. government shutdown, the fear of crypto capitulation surged, whereby Bitcoin’s Fear and Greed index to 27, signaling fear.
According to on-chain data analysis from , seven whales borrowed 40 million USDC on Aave to buy the crypto dip. World Liberty Finance (WLFI) 10 million USDC to purchase its token amid today’s crypto crash.
Meanwhile, the Bitcoin OG, who was identified after selling over $4 billion in BTC to buy Ether last month, made over $160 million in following today’s crash. Earlier this week, the Bitcoin OG opened a $438 million short position on Bitcoin, thus making massive profits.
While the crypto market was heavily impacted by the renewed China-U.S. trade war, the Gold price did not experience the crash. As such, crypto analyst Benjamin Cowen that capital rotation to the crypto market will accelerate in the coming months, as the gold price in the weekly timeframe hovers at overbought levels.
