Ether longs take the brunt of crypto’s $1 billion liquidation flush

Ether longs take the brunt of crypto's $1 billion liquidation flush

The Damage

Estimates of ether liquidations vary, ranging from approximately $318 million to $356 million, with some tallies climbing toward $356 million. Bitcoin's figure landed between roughly $215 million and $300 million over the same window.

The Pain

The losses were overwhelmingly one-sided, with long positions making up 85% to 95% of total liquidations across the market.

The Cause

The selloff came from two directions at once. On the macro side, Federal Reserve commentary added pressure to risk assets. On the technical side, key price levels gave way, with ETH falling below $2,500 and Bitcoin slipping below $81,000.

The Lesson

For active traders, the lesson is about positioning, not direction. With longs making up 85% to 95% of liquidations, the market was clearly tilted one way. The concentration on a handful of venues also matters, with Binance handling more than half of ETH volume in some reports. Liquidation engines on a single platform can shape how violently prices move.

The Impact

For long-term holders who don't use leverage, spot holders saw a 4% to 5.7% drawdown in ether. Liquidation cascades can drag spot prices lower than fundamentals alone would justify. The levels to watch are the ones that broke, with ETH reclaiming $2,500 and Bitcoin recovering the $81,000 to $84,000 zone suggesting the market has absorbed the damage.