Crypto Market is seeing more than $230 million liquidation

The crypto market continues to suffer downward pressure, with more than $230 million recorded liquidation in a day.

For each Coinglass data, total liquidation has increased by 157% over the last 24 hours. Over this period, more than 95,478 traders were liquidated.

At the time of writing, the total liquidation was $232 million. Data showed that the largest single liquidation order was included in Binance for the $5.59 million ETH/USDT location.

ETH, XRP and SOL clearing

The crypto market's total capital is $2.8 trillion, with Bitcoin dominance at 58.9%.

However, the latest wave of liquidation has attacked traders hard. Especially those who are sure prices are rising.

Most of Rekt's positions were bullish bets, as he is primarily a long leveraged position. Coinglass data shows more than $73 million, with nearly $44 million being aimed at Bitcoin and Ethereum.

XRP and Solana also witnessed a major liquidation.

Crypto Price Outlook

As mentioned above, Bitcoin (BTC) saw a liquidation of over $73 million. This followed another big short position for BTC, with the whales gaining 40x leverage. Whale liquidation is over $86,000. Currently, the BTC price is around $83,316. What happens to the whales?

Crypto Trader and Analyst Ash Crypto says the $380 million whale record can be seen as a big loss as strategy founder Michael Saylor buys more BTC.

“If Saylor announces that he will soon buy or suggest that $2 billion in Bitcoin, a whale that is 40 times shorter than $380 million will be settled into one candle,” the analyst posted on X.

Another analyst shared:

Breading Fast: The whale, which opened a $320 million short at $BTC yesterday at $84,040, has acquired profits.

1st TP: $69,414
Second TP: $58,664

I hope he and everyone who copied his trade will be liquidated and trigger a cascade of liquidation to pump the market pic.twitter.com/tiq31t9t9x

– 𝗰𝘆𝗰𝗹𝗼𝗽 (@nobrainflip) March 16, 2025

Currently, Bybit, Binance and OKX are leading the general liquidation mark.

As the Bulls try to defeat the bear, the rising liquidation highlights the risk of leverage. In a volatile market, millions or billions can be wiped out in hours.