Liquidation of the cryptocurrency market amounted to $ 426 million in just a few hours

In recent hours, the crypto market has suffered a sharp collapse: more than $ 426 million in leveraged positions were liquidated after the price of bitcoin fell to $ 87,000. According to CoinGlass, the liquidations occurred when the value of BTC dropped from around $ 90,700 to a low of $ 87,017. This led to a massive closure of long positions by traders who were counting on a further market recovery.

Bitcoin BTC $85,155.32 Mezo Wrapped BTC -5.27% Market capitalization $39.91 million VOL. 24 hours $2.08 billion suffered the biggest losses, with about $ 136 million in long positions liquidated. Ethereum ETH $2,843.30 Bridged Ether (StarkGate) -5.46% Market capitalization $66.44 million VOL. 24 hours $1.57 billion suffered losses of $ 117 million, and Solana SOL $126.99 Binance-Peg SOL -6.84% Market capitalization $0.14 billion VOL. 24 hours $0.55 billion - $ 26 million. The decline in the crypto market occurred simultaneously with the decline in US stock index futures, indicating a general deterioration in investor sentiment.

At the time of publication, the price of bitcoin was around $ 87,161. Meanwhile, Dow Jones futures lost 137 points, the S&P 500 — 33 points, and the Nasdaq — 159 points. This indicates that the pressure on risky assets from macroeconomic factors continues to grow.

The latest liquidations were the largest in the past week and emphasize the increased volatility of the cryptocurrency market. Amid uncertainty, traders are reducing their leverage to avoid further losses in the event of a new price decline.

Analysts note that, despite the short-term decline, activity in spot ETFs on bitcoin and ether is showing a gradual recovery, which may indicate that institutional investors will continue to be interested in crypto assets in the medium term.