Crypto markets saw an intense shakeout as nearly $286 million in leveraged bets were wiped out within 24 hours, even though bitcoin and ether prices remained largely unchanged. Bitcoin hovered around $63,900 and ether settled near $1,900, yet price swings less than 2% were enough to clear tens of thousands of positions.
Equal Toll on Bulls and Bears Amid Subtle Price Moves
The turbulent trading centered on Wednesday’s Federal Reserve interest rate announcement, which sparked erratic back-and-forth price moves. CoinGlass reported that 87,294 traders faced liquidations, with longs suffering approximately $186 million in losses and shorts around $100 million. Bitcoin liquidations totaled about $57 million, split nearly evenly between long and short holders, as the price fluctuated from $63,247 to $64,660.
Ether saw the heaviest total losses at roughly $58 million, mostly hitting long positions amid a price range between $1,850 and $1,920. This pattern highlights how leveraged traders on both sides were caught off guard by subtle yet volatile shifts in these major cryptocurrencies.
Broader Market Ripples and Notable Liquidations
Beyond crypto, equity perpetuals linked to AI chip stocks suffered heavy losses, primarily from long bets on names like SanDisk, Micron, SK Hynix, and a semiconductor ETF, reflecting the sharpest chip selloff this year. The largest single crypto liquidation was a $2.9 million bitcoin position on Binance, a stark reminder of the risks inherent in leveraged trading during high-stakes events.
Although prices settled back near their starting points after the Fed decision, the liquidation totals reveal an undercurrent of intense market activity. This scenario echoes recent episodes of volatility, seen when bitcoin slipped below $64K after the Fed signaled further hikes and in past Fed-driven market moves.
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