Ether bets were wiped out at six times bitcoin’s rate in crypto’s $1 billion flush
About $356 million in ETH positions were liquidated over 24 hours, more than bitcoin despite ether’s market value being less than a fifth as large.
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Summary
- Ether traders suffered about $356 million in liquidations over 24 hours, exceeding bitcoin’s $298 million despite ether’s market value being less than one-fifth as large.
- Crypto liquidations totaled $1.19 billion, including more than $1 billion in bullish positions, as interest-rate concerns, geopolitical tensions and warnings about artificial intelligence rattled leveraged markets.
- Bitcoin rebounded to about $82,200 after President Trump ruled out a strike on Iran before the midterm elections, triggering roughly $25 million in liquidations over four hours, mostly among bearish traders.
