This weekend, the crypto market saw liquidations exceed $780 million, marking a significant increase in forced position closures driven by sharp price swings and heightened uncertainty.
Updated Liquidation Data
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Over the past 24 hours, total liquidations reached approximately $788.35 million, with the top five coins accounting for nearly 79% of this figure.
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Bitcoin and Ethereum led the liquidation volumes, with Bitcoin’s price fluctuating between $98,700 and $110,200 and Ethereum ranging from $2,130 to $2,660.
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Solana and XRP also saw notable liquidation levels, with Solana between $126.99 and $178 and XRP from $1.907 to $2.26.
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The market experienced a volatility burst on June 20, 2025, where Bitcoin plunged below $99,000 triggering $450 million in liquidations, mostly from long positions.
What’s Driving These Liquidations?
1. Market Volatility and Price Swings
Bitcoin’s rapid drop below $99,000 from above $106,000 caught traders off guard, forcing margin calls and liquidations. Ethereum and other altcoins followed similar downward moves, amplifying the liquidation cascade.
2. High Leverage Positions
Many traders used leverage to increase exposure. When prices moved against them, exchanges automatically closed positions to prevent further losses, triggering a domino effect of liquidations.
3. Geopolitical and Macro Risks
Ongoing geopolitical tensions, including conflicts in the Middle East, have increased market uncertainty. This risk-off sentiment led investors to reduce exposure to volatile assets like cryptocurrencies.
4. Complex Market Events
Events like the chaotic short position and liquidation on the Hyperliquid decentralized exchange involving the memecoin JELLYJELLY added to market unease, highlighting risks in less liquid tokens and platforms.
5. Whale Activity
Large holders have been taking profits amid uncertain conditions, adding to selling pressure and liquidity challenges.
| Cause | Impact on Liquidations |
| Market volatility | Sharp price drops trigger forced liquidations |
| High leverage trading | Amplifies losses and margin calls |
| Geopolitical tensions | Drives risk aversion and sell-offs |
| Complex DeFi events | Increases market uncertainty |
| Whale profit-taking | Adds selling pressure |
What This Means for Traders
- The surge in liquidations reflects the dangers of leveraged trading during volatile periods.
- Traders should monitor geopolitical and macroeconomic developments closely.
- Liquidation waves can accelerate price declines but may also signal potential buying opportunities once markets stabilize.
FAQs
Q: Why did liquidations spike this weekend?
- Rapid price drops combined with high leverage and geopolitical uncertainty forced many traders out of their positions.
Q: Which cryptocurrencies were most affected?
- Bitcoin, Ethereum, Solana, and XRP saw the highest liquidation volumes.
Q: Are these liquidations a sign of a market crash?
- Not necessarily; liquidation events often accompany volatility and can precede market recoveries.
This weekend’s liquidation surge highlights the volatile nature of crypto markets and the risks traders face amid uncertain global conditions and rapid price movements.
