BTC
$77,474.95
–
7.40%
ETH
$1,553.43
–
14.26%
USDT
$0.9994
–
0.04%
XRP
$1.8264
–
14.60%
BNB
$551.98
–
6.70%
USDC
$1.0001
–
0.01%
SOL
$103.28
–
14.14%
TRX
$0.2267
–
4.14%
DOGE
$0.1420
–
15.60%
ADA
$0.5616
–
13.27%
LEO
$8.9210
–
2.49%
LINK
$11.02
–
13.85%
TON
$2.9304
–
9.97%
XLM
$0.2166
–
14.70%
AVAX
$15.89
–
9.08%
SHIB
$0.0₄1112
–
9.51%
SUI
$1.8707
–
13.93%
OM
$6.0168
–
3.64%
HBAR
$0.1369
–
14.74%
BCH
$269.75
–
9.19%
Apr 7, 2025, 4:14 a.m.
- Futures tied to major cryptocurrencies saw over $840 million in long liquidations as bitcoin’s decline led to significant losses.
- Bitcoin traders lost over $322 million, while ether traders lost nearly $290 million, with smaller tokens like XRP and SOL experiencing high liquidation levels.
- Nearly 86% of futures bets were bullish, indicating traders expected higher prices, but large-scale liquidations suggest potential market turning points.
Futures tied to major tokens saw over $840 million in long liquidations in the past 24 hours as a bitcoin (BTC) plunge led to losses among major tokens, with some falling nearly 14%.
STORY CONTINUES BELOW
CoinGlass data shows that bitcoin traders betting on higher prices lost over $322 million, while bets on ether (ETH) lost nearly $290 million. Smaller alternative tokens (altcoins) recorded nearly $400 million in liquidations — with futures tracking xrp (XRP) and Solana’s SOL seeing an unusually high $80 million in cumulative liquidations.
BTC slid to under $77,000 in its worst start to a historically bullish month late Tuesday, with ether (ETH) down 15% to $1,500.
SOL, XRP and dogecoin (DOGE) slid as much as 15%, before slightly recovering in Asian morning hours, with BNB Chain’s bnb holding relatively stronger with a 6% slide. The nosedive in majors was reflected across midcaps and smaller tokens — all showing drops of over 10-20% as per CoinGecko.
Data shows that nearly 86% of all futures bets were bullish. Traders were positioning for higher prices in the weeks ahead on expectations that current ongoings were likely priced in and that markets could see near-term relief.
A liquidation occurs when an exchange forcefully closes a trader’s leveraged position due to the trader’s inability to meet the margin requirements.
Large-scale liquidations can indicate market extremes, like panic selling or buying. A cascade of liquidations might suggest a market turning point, where a price reversal could be imminent due to an overreaction in market sentiment.
Global equities and risk assets such as bitcoin took a hit Monday as investors continue to remain fearful of the fallout from the Trump tariffs, sending U.S. stock index futures lower by about 5% as trading resumed after the weekend.
Hedge fund billionaire Bill Ackman urged the president not to go through with economic “nuclear war” and instead call a “time out” on Monday.
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.
