Bullish crypto bets lose $1.6 billion as ETH, SOL, DOGE drop 9%
Nearly $1.84 billion in leveraged crypto positions liquidated in 24 hours as Bitcoin fell below $66,000 and Ether dropped under $1,900—the largest wipeout since February. Long positions absorbed $1.66 billion in losses, with Bitcoin longs hit hardest at $883.66 million. Whales on OKX flipped bearish while retail remains stubbornly long, suggesting the market hasn't found its clearing level yet.
Key takeaways
- 1$1.84 billion in leveraged positions liquidated in 24 hours as Bitcoin fell below $66,000 and Ether dropped under $1,900.
- 2Bitcoin longs absorbed $883.66 million in losses, with Binance accounting for 41% of total liquidations across major exchanges.
- 3Retail traders remain bullish with 2:1 long-short ratios while whale accounts on OKX flipped to extremely bearish 0.54 ratio.
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Why it matters
This represents the largest liquidation event since February, signaling market instability and conflicting sentiment between retail and institutional traders. For Indian retail investors, such volatility highlights leverage risks and suggests the market hasn't stabilized, with potential further downside to $60,000 if support breaks.
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