Over $553 million in cryptocurrency contracts were liquidated in the past 24 hours, with Binance experiencing a significant $4.57 million liquidation in ETHUSDT, according to Coinglass data.

These liquidations underscore the market's volatility, impacting major assets like Bitcoin and Ethereum, affecting traders globally without comment from leading figures or exchanges.

Crypto Liquidations Total $553M Amidst Market Turmoil

Over the past 24 hours, the cryptocurrency market experienced notable liquidations involving $553 million in contracts, primarily driven by volatility in Bitcoin and Ethereum. This liquidation, according to Coinglass, occurred mainly across Binance, Bybit, and HTX exchanges.

Most liquidations stemmed from 327 million short positions, with $4.57 million in a single ETHUSD liquidation on Binance. Such occurrences often trigger immediate price analysis and discussions about leverage practices within the industry.

As there are no quotes or public statements available from key leaders or experts regarding the recent liquidations in the cryptocurrency market, I'm unable to provide you with any specific quotes.

Bitcoin and Ethereum Bear Market Fallout

Did you know? During past liquidation events like those in March 2025, over 400,000 traders were liquidated, amounting to roughly $1 billion to $1.5 billion in losses.

Bitcoin, as of the latest reports from CoinMarketCap, is trading at $121,610.99, down 2.86% in 24 hours but up 11.51% across 90 days. With a circulating supply of 19,931,381 Bitcoins, its market cap is $2.42 trillion. Trading volume increased 21.44%, reflecting the ongoing market instability.

Insights by the Coincu research team suggest similar volatility episodes present opportunities for regulatory reassessment and possible advancements in exchange transparency. Historical data underline trends indicating potential for reflexive recoveries post‑large liquidation events, mainly impacting high‑leverage assets. Exchanges may face calls for increased oversight to guard against systemic risks. Referencing similar past events, over $1 billion in shorts were liquidated, highlighting the recurrent cycle of liquidation and market response.