The crypto market saw one of its sharpest shakeouts in weeks, with over $896 million in liquidations recorded within 24 hours as prices tumbled across major assets. According to data from Coinglass, long positions accounted for $723.4 million of the total, while shorts made up $173 million, showing that the latest correction blindsided overly bullish traders.
The largest wave of liquidations occurred within a single hour, wiping out $490 million, with $450 million coming from long positions alone, following Donald Trump’s renewed tariff threats against China, which sparked risk aversion in both equities and crypto.
The global crypto market cap fell 2.34% to $4.02 trillion, while the Fear & Greed Index slipped to a neutral 54, and the average crypto RSI dropped to 38.37, signaling oversold conditions.
Analysts note that liquidation-driven volatility tends to create short-term selling pressure, but oversold readings may attract opportunistic buyers if macro sentiment stabilizes in the coming days.