Crypto Market Liquidations Reach $1.19 Billion as Ether Takes Heavy Hit

Crypto derivatives recorded $1.19 billion in liquidations over the 24 hours ending at 12:05 a.m. ET (04:05 UTC) Friday, with bullish positions accounting for more than $1 billion as leverage came under pressure.

Ether (ETH) positions made up about $356 million of the total, exceeding the $298 million liquidated from Bitcoin (BTC) positions. Adjusted for market capitalization, Ether’s liquidation rate was roughly six times Bitcoin’s.

Interest-rate concerns, geopolitical tensions and warnings tied to artificial intelligence added pressure to leveraged crypto markets. Bitcoin briefly rebounded to about $82,200 after Donald Trump ruled out the possibility of launching an attack on Iran before the midterm elections, but roughly $25 million in positions were liquidated over the following four hours, mostly from bearish positions.