Bitcoin and Ethereum Slide, Triggering Billions in Liquidations

The statement is strongly supported by multiple high-authority and high-relevance sources. A report from The Block, a highly credible crypto-focused publication, directly states that price falls led to over $1 billion in leveraged crypto positions being liquidated, citing data from the analytics firm Coinglass. This is corroborated by a post from the official account of CoinMarketCap, another reputable source, which also confirms an event where Bitcoin and Ethereum price drops resulted in over $1 billion in liquidations. The credibility of these claims is further bolstered by the inclusion of Coinglass as a primary source, as it is a specialized platform for tracking this exact type of data. While some news articles mention smaller liquidation events in the hundreds of millions, these do not contradict the main statement; they likely refer to different timeframes or less severe market moves, and their existence confirms that large-scale liquidations are a common market phenomenon. The predictive articles from Phemex and the low-authority social media post are not relevant or credible enough to challenge the evidence. The combined weight of the direct, authoritative reports makes the statement highly likely to be true.