Analysts Warn of Further Declines as Crypto Market Sees $900M in Liquidations

A sudden Bitcoin whale selloff triggered $808 million in liquidations, pushing Bitcoin below $110,000 as overleveraged traders faced steep losses while whales accumulated assets during the downturn.

BTC

ETH

SOL

198d ago

Summary

The crypto market saw $808 million in liquidations over the past 24 hours as Bitcoin fell below $110,000. CoinGlass reported that long positions accounted for $696 million of the losses, with Bitcoin and Ethereum leading at $272 million and $262 million respectively. A whale selloff of 24,000 BTC worth $2.7 billion triggered the flash crash, liquidating over 200,000 traders, including a $39 million BTC position on HTX. The global market cap dropped nearly $200 billion to $3.8 trillion. Despite the selloff, whales accumulated BTC and ETH, with purchases of 455 BTC ($50M), nearly $100M in mixed BTC/ETH, and 5,000 ETH by BitMine Immersion. Analysts warn of further downside risk toward $105,000 or even $92,000–$100,000, though institutional flows and futures activity suggest sentiment has not turned fully bearish.

Terms & Concepts

Liquidations: Forced closure of leveraged positions when account equity falls below margin requirements, often due to sharp market moves.
Altcoins: Cryptocurrencies other than Bitcoin, often more volatile and sensitive to market-wide selloffs.
Futures Open Interest: The total number of outstanding futures contracts that have not been settled, often used as a measure of market activity and sentiment.