Crypto Liquidations Surge to $1.7 Billion Amid Heightened Market Volatility

Core Insights - The cryptocurrency market experienced nearly $1.7 billion in liquidations within 24 hours, with a total market capitalization decline of 6% [1][2][6] Group 1: Liquidation Data - A total of 270,438 traders were liquidated during the recent market downturn, with long positions accounting for the majority of losses at $1.57 billion, while short positions totaled $107.74 million [2] - Bitcoin liquidations reached $768.69 million, predominantly from long positions at $745.3 million, while Ethereum saw total liquidations of $417.43 million, with $390.5 million from long positions [3] - Hyperliquid recorded the highest liquidation volumes at $567.2 million in long liquidations, followed by Bybit at $329 million and Binance at $152.3 million in long liquidations [4] Group 2: Market Conditions - Bitcoin and Ethereum dropped to two-month lows of $80,815 and $2,687, respectively, during early Asian trading hours [6] - By the time of reporting, Bitcoin had slightly recovered to $82,023 and Ethereum to $2,737, while Solana experienced the largest decline among the top 10 cryptocurrencies, falling 7.7% [7] - The market crash affected not only cryptocurrencies but also precious metals and equities, indicating a broader market impact [7]