Leveraged traders took the brunt of bitcoin’s late-Sunday slide. CoinDesk, citing CoinGlass data, reported that more than $1 billion in crypto positions were liquidated over 24 hours, with most of it hitting in the final six hours or so. Long positions, bets on higher prices, accounted for $913 million of the total.
Ether was hit hardest. CoinDesk put ether liquidations at $448 million, nearly double the $272 million in bitcoin liquidations. The largest single order was $48 million, in ETH. The data cited does not provide a breakdown by exchange or a long-short split for each coin.
Bitcoin.com News, also citing CoinGlass, said bitcoin fell from $75,690 to $73,477 in about 15 minutes. It relayed onchain tracker Lookonchain, which reported that an ETH trader’s 56,667 ETH long, worth $118.4 million, was wiped out, bringing that trader’s total losses to $44.78 million. The same report said a wallet borrowed $22 million in USDT from Aave to buy 10,000 ETH at $2,155, and that a Hyperliquid wallet which had shorted Nvidia perpetual futures also added a short on 200 BTC. These are tracker reports, not independently verified here.
The sell-off followed news that Nvidia’s board opened an investigation into CEO Jensen Huang and that U.S.-Iran talks had stalled. Commentators cited by Bitcoin.com said thin weekend liquidity amplified the move. CoinDesk noted bitcoin sits between its 200-day average near $73,150 and its 100-day average near $77,430.
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