$665,000,000 in Bitcoin and Crypto Liquidated As BTC Gives Leveraged Traders Whiplash

Cryptocurrency traders who are using leverage to bet on the price movements of Bitcoin are experiencing a rollercoaster ride of emotions. Over the past 24 hours, a staggering $655 million in leveraged crypto bets have been liquidated, as reported by the market data tracker CoinGlass.

This sudden surge in liquidations coincided with the rapid developments surrounding President Trump’s interest in acquiring Greenland and his proposed imposition of new tariffs on EU countries that did not comply with his plans.

The day started with Bitcoin seeing a rise from $88,224 to $90,295, resulting in the liquidation of over $75 million in short positions. However, the momentum quickly shifted as BTC dropped back down to $87,304, leading to the liquidation of approximately $145 million in long positions.

Just when traders thought they had a grasp on the situation, President Trump announced the cancellation of the planned EU tariffs. This news propelled Bitcoin back up to $90,203, causing over $200 million in short positions to be liquidated.

In total, Bitcoin witnessed $96 million in long liquidations and $135 million in short liquidations within the last 24 hours. Ethereum also experienced significant liquidations, with $126 million in long positions and $120 million in short positions getting wiped out in the same timeframe.

At the time of writing, Bitcoin is priced at $89,479, while Ethereum is trading at $2,988. The market volatility and rapid price swings have kept traders on their toes, with many struggling to navigate the unpredictable landscape of cryptocurrency trading.

As the market continues to evolve, it is essential for traders to stay informed and adapt their strategies accordingly. Follow us on X, Facebook, and Telegram for the latest updates and insights. Don’t miss out on important market movements – subscribe to our email alerts for real-time notifications. Stay tuned for more price action analysis and market updates on The Daily Hodl Mix.

(Image credit: Midjourney)