Ethereum traders have taken the biggest hit in a brutal leverage flush that wiped out about $1.19 billion in crypto positions in 24 hours. More than $1 billion of that total came from long positions, which means most traders were betting on higher prices just before the market turned down.
Ethereum alone saw about $356 million in liquidations, more than Bitcoin's roughly $298 million, even though Bitcoin's market value is more than five times larger. Adjusted for size, Ethereum's liquidations were about six times heavier than Bitcoin's, showing how crowded ETH leverage had become. The biggest single liquidation was an Ethereum position worth nearly $20 million.
The price action was sharp. Bitcoin slipped from around $83,200 to a low near $80,400 before recovering toward $82,200, while Ethereum fell more than 3% to around $2,490. Solana traders also lost about $71 million and XRP about $34 million in the same wave of forced selling.
Traders say the sell-off was fuelled by worries over U.S. interest rates, geopolitical tension and weak institutional demand after days of ETF outflows. When Bitcoin broke below its recent range, stop losses and liquidation levels were hit one after another, turning a normal dip into a fast cascade.
For traders, the lesson is clear: leverage is still very dangerous in this market. With Ethereum showing much higher liquidation risk than Bitcoin, many short-term traders are now cutting position sizes and waiting to see if ETH can hold near $2,490 and Bitcoin can stay above $80,000.
Read also: Ethereum in Trouble? $542 Million Leaves ETH ETFs — But One Expert Still Sees $5,000
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: CoinDesk, Cointelegraph, CoinGlass
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