The majority of the transaction was allocated to long positions, totaling approximately $533.52 million, while short positions suffered significantly less with around $81.23 million in losses, as per data from CoinGlass.
The leading digital currency, Ethereum, suffered a significant blow with approximately $233.71 million worth of positions being wiped out, with around $200.79 million being long bets. Bitcoin, in second place, had liquidations amounting to $134.40 million, primarily consisting of $125.45 million in long positions. These two prominent cryptocurrencies accounted for nearly 60% of the total market’s liquidations combined.
Significant closures of key holdings were also observed in other significant areas. Solana recorded a whopping $35.63 million in liquidations, while Dogecoin and Ripple faced liquidation amounts of $23.40 million and $20.35 million respectively. The broader altcoin market wasn’t immune to these closures either, with over $53 million in liquidations being distributed among various altcoins.
The rise in liquidations occurs during ongoing market turbulence, where Bitcoin is approximately $113,800 and Ethereum is trading close to $3,511. Over the past week, both assets have experienced declines – a decrease of 3.49% for Bitcoin and 6.22% for Ethereum, indicating persistent selling activity.
Due to recent market movements, long-term investors in leveraged positions may experience significant losses. Analysts caution that the market could continue to fluctuate if crucial support levels for key prices (such as around $3,500 for Ethereum and $113,000 for Bitcoin) are not reached.
As an analyst, if this downward trend persists, there’s a possibility of more sell-offs, which might lead to additional liquidations. This could intensify market volatility and, in the immediate future, potentially drive prices lower.
Just so you know, this article is for informative purposes only. It doesn’t offer financial, investment, or trading advice. We at Coindoo.com don’t favor any particular investment strategy or cryptocurrency. Remember to do your own research and consult a licensed financial advisor before making any investment decisions.
Read More
- SOL PREDICTION. SOL cryptocurrency
- ETH PREDICTION. ETH cryptocurrency
- EUR AUD PREDICTION
- WLD PREDICTION. WLD cryptocurrency
- EUR USD PREDICTION
- EUR CNY PREDICTION
- EUR VND PREDICTION
- BTC PREDICTION. BTC cryptocurrency
- USD INR PREDICTION
- USD ARS PREDICTION
2025-08-02 16:10