Extensive Liquidation of 99,000 Crypto Trader Positions Exceeds $678 Million

The cryptocurrency market witnessed the liquidation of positions for approximately 99,000 traders globally over the past 24 hours, with a total value exceeding $678.24 million. Trading monitoring data revealed that Ethereum (ETH) accounted for the largest share of these liquidations, valued at around $259.76 million. The liquidations included approximately $421 million from short positions, compared to $256.86 million from long positions. The largest single liquidation during this period was recorded on the Hyperliquid platform in an ETH-USD trade, amounting to $20.28 million. Conversely, data from the Binance platform indicated a rise in the prices of the two largest cryptocurrencies by market capitalization. Bitcoin's price reached approximately $78.76 thousand at 17:40 Moscow time, showing a 1.95% increase, while Ethereum's price surged by 6.99% to about $2611.2. According to CoinMarketCap data, the total market capitalization of the cryptocurrency market stood at about $2.69 trillion, with Bitcoin alone accounting for approximately $1.57 trillion, and Ethereum for $318.24 billion. Forced liquidation occurs when a trading platform closes an open leveraged position due to insufficient margin to cover losses and maintain the trade.