The crypto market has recently experienced major liquidations, with bulls getting the biggest hits. Long positions worth $809M liquidated in the cryptocurrency market in the past 24 hours. These positions account for more than 90% of all liquidations.
CryptoRank has reported that long positions in the crypto market are getting wiped out. According to the crypto analytics platform, long positions worth $809 million were liquidated in the last 24 hours.
Long positions account for 91% of all liquidations
Long Traders Get Wiped Out 🌊
In the past 24 hours, long positions worth $809M were liquidated—accounting for 91% of all liquidations.
44% of all liquidations occurred on @Bybit_Official, where $371M in long positions were wiped out. pic.twitter.com/tYMqlh5mCq
— CryptoRank.io (@CryptoRank_io) February 25, 2025
CryptoRank reported that the long positions liquidated account for 91% of all liquidations, bringing the total liquidations to about $900 million. Short traders were the least affected and lost $72.69 million. The platform also noted that 44% of all liquidations, equivalent to $371 million, occurred on the Bybit exchange, while Binance followed with 26%.
According to data from CoinGlass, leverage traders lost big in Bitcoin, Ethereum, and Solana. The data shows that Bitcoin suffered the largest liquidations worth $274.39 million, followed by Ethereum with $192.98 million. Solana claimed the third position with $90.59 million in liquidations, while XRP trailed behind Solana with $39.10 million. The data shows that the largest single liquidation order, worth $10 million, occurred on BitMEX’s XBTUSD pair.
According to data from the crypto price tracking website CoinMarketCap. Bitcoin is down 4.75% in the last 24 hours bringing its seven-day decline to 4.25% as of this writing. The digital asset is down 16% from its all-time-high price of $109,114 and is currently exchanging hands for $91,212. Ethereum is down 7.36% in the last seven days and has dipped by 9.74% in 24 hours. ETH is trading at $2,441.
XRP and Solana have dipped by double figures in the last few days. XRP is down 10.09% on the last day and 12.33% on the previous seven days, while Solana has declined by 15.06%, bringing its seven-day dip to 17.03%. XRP retails for $2.16, while Solana averages $136 per coin as of this publication.
Top memecoins dip as crypto sell-off continues
Top memecoins appear among the most affected digital assets in the ongoing crypto meltdown. According to CoinMarketCap, Dogecoin’s price declined by about 12% in the last 24 hours and 16.94% in the preceding 24 hours.
Shiba Inu is also down significantly. The crypto asset is down 10.72% in the last seven days and has declined by 9.92% in the last 24 hours. Pepe also dropped by 15.25% in the past 24 hours and has dropped by 18.31% in the last seven days.
US President Donald Trump’s Official Trump (TRUMP) memecoin has dropped by over 75% from its peak. According to CoinMarketCap, TRUMP is down 21% in the last seven days and has dropped by 15.19% in the last 24 hours. Memecoin’s major hub, Solana, has lost roughly $50 billion in market value in the past month.
Trump’s economic policies fuel uncertainty in financial markets
The crypto market is in turmoil due to rising economic uncertainties under Trump’s administration despite his promise to endorse the crypto industry. Trump’s latest economic moves involved imposing tariffs on Canada and Mexico and new restrictions on Chinese stakes in important sectors. Trump’s economic uncertainties have triggered a widespread risk-off market sentiment, leading investors to avoid risky assets and investment vehicles like crypto.
As a result, U.S.-approved spot Bitcoin exchange-traded funds have also witnessed major outflows this month. According to data from ETF tracker SoSoValue, the ETFs have witnessed outflows worth $516.41M as of February 24th. The outflows marked a 4-day streak of negative flows that began on Feb 18th. U.S. Bitcoin ETFs still hold a significant amount of Bitcoin, valued at around $109.26 billion. The value represents 5.86% of Bitcoin’s total market capitalization.
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