Bitcoin futures suffered a $923.12 million liquidation in the last 24 hours, signaling a severe pullback for the crypto market.
Futures Liquidation Breakdown
Long positions accounted for $770.59 million of the total, representing roughly 83.5 % of all liquidations, while short contracts contributed $152.53 million, or 16.5 %. The disproportionate loss of longs underscores heightened risk aversion among investors who were betting on rising prices. This wave of liquidations highlights the volatility inherent in blockchain‑based derivatives.
Price Movement and Options Expiry
Bitcoin’s futures dipped to $58,995, the lowest level recorded since October 2024, placing the digital asset about 52 % below its all‑time high. At the time of writing, Bitcoin traded near $59,623 and Ethereum lingered around $1,572, both reflecting diminished appetite for risk in the crypto market. Meanwhile, approximately $10 billion of Bitcoin options on Deribit are set to expire, a scenario that could amplify downward pressure if spot prices fail to rebound.
Investor Sentiment
The combined effect of massive liquidations, falling prices, and looming options expiration has eroded confidence among crypto investors. Market participants are closely monitoring the next trading session for signs of stabilization, as the broader blockchain ecosystem awaits clearer direction.