Crypto Market Meltdown: $2.2 Billion Wiped Out in Biggest Liquidation Event Ever

The crypto market just went through one of its worst days in history, with over $2.2 billion in liquidations—a bigger disaster than the collapses of FTX and Terra (LUNA).

What Happened?

Bitcoin and Ethereum prices took a major nosedive after news broke that President Trump is imposing new tariffs on Canada, Mexico, and China. The market reacted instantly, triggering panic selling and massive liquidations across the board.

  • Bitcoin dropped to $91,200 before bouncing back slightly to $93,600, losing 6.5% in a single day.
  • Ethereum was hit even harder, crashing 20% to $2,500.
  • Most altcoins lost between 15% and 30% in just 24 hours.

Traders Got Wiped Out

This crash hit futures traders the hardest. According to CoinGlass, nearly $1.87 billion in long positions were liquidated as traders betting on higher prices got caught off guard. Short sellers, on the other hand, only faced about $345 million in liquidations.

  • Ethereum traders suffered the most, with $600 million in ETH liquidations.
  • Bitcoin traders lost $400 million, while other altcoins also saw heavy losses.

Why Did This Happen?

The crypto market was already shaky due to recent volatility. But when Bitcoin started falling, high leverage trades began liquidating, triggering a chain reaction of forced selling. The market simply couldn’t handle the pressure, leading to one of the fastest and most brutal crashes ever seen.

What’s Next?

Analysts are comparing this to the COVID crash of 2020 and are warning traders to stay cautious. Some experts are advising against “revenge trading” with leverage, saying now is a time for patience, not reckless bets.

For now, all eyes are on Bitcoin and Ethereum to see if they can stabilize—or if more pain is on the way.

bitcoin
Bitcoin (BTC) $ 95,917.70
ethereum
Ethereum (ETH) $ 2,609.55
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.41
solana
Solana (SOL) $ 195.60
bnb
BNB (BNB) $ 632.31
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.253350
cardano
Cardano (ADA) $ 0.766642
staked-ether
Lido Staked Ether (STETH) $ 2,607.31
tron
TRON (TRX) $ 0.238450
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 95,824.67
chainlink
Chainlink (LINK) $ 18.57
wrapped-steth
Wrapped stETH (WSTETH) $ 3,111.24
avalanche-2
Avalanche (AVAX) $ 25.18
sui
Sui (SUI) $ 3.27
stellar
Stellar (XLM) $ 0.316231
the-open-network
Toncoin (TON) $ 3.72
shiba-inu
Shiba Inu (SHIB) $ 0.000016
leo-token
LEO Token (LEO) $ 9.83
litecoin
Litecoin (LTC) $ 117.34
hedera-hashgraph
Hedera (HBAR) $ 0.224497
usds
USDS (USDS) $ 1.00
hyperliquid
Hyperliquid (HYPE) $ 23.37
weth
WETH (WETH) $ 2,608.60
bitget-token
Bitget Token (BGB) $ 6.20
polkadot
Polkadot (DOT) $ 4.83
bitcoin-cash
Bitcoin Cash (BCH) $ 330.44
ethena-usde
Ethena USDe (USDE) $ 1.00
mantra-dao
MANTRA (OM) $ 5.87
uniswap
Uniswap (UNI) $ 9.40
wrapped-eeth
Wrapped eETH (WEETH) $ 2,763.52
ondo-finance
Ondo (ONDO) $ 1.33
monero
Monero (XMR) $ 223.49
pepe
Pepe (PEPE) $ 0.000010
whitebit
WhiteBIT Coin (WBT) $ 27.38
near
NEAR Protocol (NEAR) $ 3.22
aave
Aave (AAVE) $ 242.26
dai
Dai (DAI) $ 0.999993
mantle
Mantle (MNT) $ 1.02
internet-computer
Internet Computer (ICP) $ 7.09
aptos
Aptos (APT) $ 5.90
susds
sUSDS (SUSDS) $ 1.04
bittensor
Bittensor (TAO) $ 394.63
official-trump
Official Trump (TRUMP) $ 15.36
ethereum-classic
Ethereum Classic (ETC) $ 20.23
okb
OKB (OKB) $ 50.03
gatechain-token
Gate (GT) $ 22.18
vechain
VeChain (VET) $ 0.033016
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.308381