BTC
$89,800.67
–
6.09%
ETH
$2,409.60
–
10.39%
USDT
$1.0008
+
0.06%
XRP
$2.2059
–
11.13%
BNB
$607.58
–
5.37%
SOL
$138.58
–
12.33%
USDC
$1.0007
+
0.07%
DOGE
$0.2063
–
10.42%
ADA
$0.6684
–
8.54%
TRX
$0.2336
–
5.22%
WBTC
$89,859.31
–
6.00%
LINK
$14.84
–
10.72%
XLM
$0.2889
–
9.19%
AVAX
$21.26
–
10.31%
SUI
$2.8131
–
14.70%
TON
$3.4329
–
8.10%
LTC
$112.73
–
8.38%
LEO
$8.7631
–
10.20%
SHIB
$0.0₄1368
–
8.06%
HBAR
$0.1866
–
7.95%
By Shaurya Malwa|Edited by Parikshit Mishra
Feb 25, 2025, 8:30 a.m. UTC
What to know:
- Crypto bulls were left with at least $1.2 billion in losses over the past 24 hours as a market slump from Monday worsened in Asian hours Tuesday.
- Futures tracking bitcoin (BTC) registered over $530 million in liquidations, while ether (ETH) bets saw over $294 million evaporated.
Crypto bulls nursed at least $1.2 billion in losses over the past 24 hours as the market slump from Monday worsened during the Asian hours on Tuesday, driving bitcoin (BTC) to under $89,000, its lowest since mid-November.
Apart from Bybit, crypto exchanges report only one liquidation per second, meaning the overall losses are much higher than the recorded $1.35 billion across long and short trades.
STORY CONTINUES BELOW
Futures tracking bitcoin registered over $530 million in liquidations, while ether (ETH) bets saw over $294 million evaporated. Solana (SOL) futures lost $112 million as the token slumped more than 15%, while a 14% dive in XRP and doge (DOGE) led to over $80 million in losses cumulatively.
Liquidations occur when an exchange forcefully closes a trader’s leveraged position due to a partial or total loss of the trader’s initial margin. It happens when a trader cannot meet the margin requirements for a leveraged position, that is, they don’t have enough funds to keep the trade open.
Crypto exchange Bybit — which has fully recovered assets after a $1.4 billion hack last week — led liquidation figures with over $600 million lost on the exchange, followed by Binance at $300 million and OKX at $147 million.
Nasdaq futures pointed to continued losses in technology stocks and strength in the Japanese yen sparked fears of an August-like risk aversion.
Investors tend to flock to the yen during economic uncertainty or market stress as it is seen as a safe haven, much like the U.S. dollar or gold. This risk-off sentiment usually pressures riskier assets — like bitcoin or equities — as investors pull money out of speculative investments and park it in safer bets.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
