The cryptocurrency market experienced one of its worst liquidations in recent months over the 24 hours that concluded on Thursday night, losing nearly $1.45 billion. It was the fourth-largest daily liquidation event in the preceding ninety days, with approximately 311,000 traders’ holdings being closed over that period.
Long holdings accounted for over $1.24 billion of the total losses. Bitcoin suffered the most damage, with liquidations totaling about $739 million, followed by Ethereum with $337 million. Solana finished third with almost $77 million depleted.
With $646 million being liquidated in only four hours, the last 12 hours saw the most intense selling pressure. There was only one $11.36 million BTC/USDT liquidation recorded on the derivatives platform Aster.
During the sell-off, prices fell below significant support levels. Solana closed at $83, Ethereum at $1,960, and Bitcoin at $66,650. Analysts caution that failure to recover could result in further losses in the coming days.
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