Bitcoin and Ethereum Market Faced Another Round of Heavy Liquidations, Wiping $751.15M (₱43.2 billion)

The crypto market faced another round of heavy liquidations, with $751.15 million (₱43.2 billion) wiped out in the past 24 hours as Bitcoin and Ethereum extended their declines.

The crypto market faced another round of heavy liquidations, with $751.15 million (₱43.2 billion) wiped out in the past 24 hours as Bitcoin and Ethereum extended their declines. Nearly 256,000 traders were liquidated, with a $5.07 million Bitcoin position on BitMEX marking the largest single liquidation.

Key Liquidation Figures (Last 24 Hours):

* Total Liquidated: $751.15 million (about ₱43.2 billion)

* Liquidated Traders: 255,972

* Largest Single Liquidation: $5.07 million Bitcoin position on BitMEX

Top Liquidated Assets:

* Ethereum (ETH): $274.76 million

* Bitcoin (BTC): $190.98 million

* Litecoin (LTC): $37.84 million

* Ripple (XRP): $34.61 million

ETH’s Price Drop Triggers DeFi Liquidation Risks

Ethereum's price fell sharply on Monday, dropping below the $1,900 level for the first time since May. This decline has brought attention to the potential for large-scale liquidations in the decentralized finance (DeFi) market.

ETH serves as collateral for loans in DeFi protocols, and if the cryptocurrency continues to decline, it could lead to the liquidation of outstanding loans. According to DeFi analytics firm Glassnode, over $366 million in DeFi loans are vulnerable to liquidation if ETH falls further.

Arthur Hayes Warns of Bitcoin’s ‘Violent' Drop to $75K

Bitcoin's price has plummeted more than 14% in a week, raising concerns about a potential crash to $75,000, according to BitMEX co-founder Arthur Hayes.

In his latest blog post, Hayes attributes this pessimistic outlook to worsening market sentiment, which he believes will drive Bitcoin down to the $75,000 level.

"The optimists will say that the macroeconomic backdrop couldn’t be better, with low interest rates and high inflation spurring demand for Bitcoin as an inflation hedge," Hayes writes. "The pessimists will say that Trump's trade policies are bad for the global economy, and that will weigh on Bitcoin prices."

Trump’s Trade Policies and Crypto Summit Underwhelm Investors

Indeed, market concerns have been fueled by President Donald Trump's trade war escalation, with new tariffs on Canada, Mexico, and China announced this week.

However, the administration confirmed the creation of a U.S. Bitcoin reserve, set to include BTC seized from criminal cases rather than newly acquired assets.

This announcement follows a report by the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) on the use of Bitcoin by cybercriminals.

As the crypto market continues to be battered by turbulent price swings and macroeconomic anxieties, traders will be closely watching key liquidation levels and upcoming economic developments for clues about the market's next move.