Bitcoin, Ether Drive $258M of Crypto Liquidations in Four Hours

A sudden market slide set off a fresh wave of forced deleveraging, erasing $258 million in leveraged crypto positions in just four hours. Long bets absorbed most of the damage as prices retreated. More than $250 million was wiped out in the four-hour span, led by Bitcoin and Ethereum. CoinGlass data shows liquidations reached $450 million over the past 24 hours, with $402 million from longs and $48 million from shorts. Bitcoin was the largest contributor in the four-hour window, accounting for $118 million, or 45.73% of the total. Ethereum followed with $73.49 million, while Solana saw about $18.41 million. XRP, Chainlink and other altcoins made up the remainder. Over 24 hours, Bitcoin and Ethereum again dominated with $183 million and $125 million in liquidations, respectively. The cascade started after Bitcoin slipped below $67,000 and Ethereum fell under $2,000. Bitcoin dropped below $67,000 for the first time since March 9 and was last trading at $66,257, down 4.58% over 24 hours. Ethereum broke below $2,000 for the first time since March 11 and was last at $1,981, down 4.23%. Analysts attributed the selloff to rising geopolitical tensions in the Middle East and uncertainty around a potential ceasefire signaled by Donald Trump, keeping pressure on risk assets including cryptocurrencies. Even after the pullback, CryptoQuant data indicates Bitcoin has outperformed several traditional assets during the conflict period. Since Feb. 28, Bitcoin is up 12%, while the S&P 500 is down 4% and gold has fallen 16%. Oil has risen 9% since the war began in the Middle East. DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.