{"id":40597,"date":"2025-07-27T07:30:14","date_gmt":"2025-07-27T07:30:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/us\/40597\/"},"modified":"2025-07-27T07:30:14","modified_gmt":"2025-07-27T07:30:14","slug":"crypto-market-sees-major-liquidation-event-amid-sudden-downturn","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us\/40597\/","title":{"rendered":"Crypto Market Sees Major Liquidation Event Amid Sudden Downturn"},"content":{"rendered":"

More than half a billion in long positions were liquidated across the crypto market on Friday as the price of Bitcoin slipped below $116,000 amid a broader market tumble.<\/p>\n

According to CoinGlass data<\/a>, $585.86 million in long positions were liquidated, with Bitcoin (BTC<\/a>) accounting for $140.06 million of that total as it dropped 2.63% to $115,356. <\/p>\n

\u201cDump is a pure leverage flush,\u201d says trader<\/p>\n

Ether (ETH<\/a>) followed with $104.76 million in long liquidations, falling 1.33% to $3,598 over the same period.<\/p>\n

\"Cryptocurrencies,Over the past 24 hours, the crypto market saw 731.93 million in total liquidations. Source: CoinGlass<\/a><\/p>\n

Dogecoin (DOGE<\/a>) led the losses among the top 10 cryptocurrencies by market capitalization, dropping 7% over the past 24 hours to $0.22 and wiping out $26 million in long positions, according<\/a> to Nansen.<\/p>\n

Crypto trader Ash Crypto said<\/a> in an X post on Thursday, \u201cThis dump is a pure leverage flush.\u201d He explained:<\/p>\n

\u201cMany people longed Alts after they saw ETH pumping hard, so market makers dumped and liquidated the late longs.\u201d<\/p>\n

The sudden market downturn led to the liquidation of 213,729 traders over the period, catching many off guard amid recent bullish sentiment. Across the board, a total of $731.93 million was wiped out of the market in short and long positions.<\/p>\n

Crypto market sentiment remains strong<\/p>\n

It was on July 14 that Bitcoin reached new all-time highs of $123,100, and many held expectations of the uptrend to continue. <\/p>\n

\"Cryptocurrencies,Source: Cantonese Cat<\/a><\/p>\n

Despite the pullback, sentiment remains bullish, with the Crypto Fear & Greed Index posting<\/a> a \u201cGreed\u201d score of 70 in its Friday update. <\/p>\n

It comes as several crypto industry participants recently shared forecasts for higher prices in the crypto market. Galaxy Digital CEO Michael Novogratz said on Thursday that he forecasts Ether to reach $4,000 at least<\/a>, which is an approximate 9.8% spike from its current price.<\/p>\n

Meanwhile, Bitfinex analysts\u00a0said<\/a>\u00a0in a market report on Wednesday that if Bitcoin\u2019s uptrend continues, the next major target will be $136,000.<\/p>\n

However, traders are hedging their bets against Bitcoin\u2019s price posting a quick reversal. A return to Thursday\u2019s price of $119,500 would put approximately $3.07 billion short positions at risk of liquidation.<\/p>\n

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<\/p>\n","protected":false},"excerpt":{"rendered":"More than half a billion in long positions were liquidated across the crypto market on Friday as the…\n","protected":false},"author":2,"featured_media":40598,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[28,112],"class_list":{"0":"post-40597","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/40597","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=40597"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/40597\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/40598"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=40597"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=40597"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=40597"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}