Crypto Liquidations Hit $573 Million as BTC, ETH and XRP Sees rebound

Godfrey Benjamin
April 10, 2025
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Crypto Liquidations Hit $573 Million as BTC, ETH and XRP Sees rebound

Highlights

  • Combined crypto liquidation soared past the $570 million mark
  • President Trump's pivot in the tariff war triggered massive price breakouts
  • Industry experts are optimistic on major price rebound despite volatility

The sharp rally in the combined crypto market capitalization has triggered a new round of liquidations, with Bitcoin (BTC) in the spotlight. Over the past 24 hours, 156,601 traders have suffered liquidations as the market moved against expectations, another twist in the ongoing global trade war.

During this period, actual liquidation figures hit $573.19 million. The largest single liquidation order took place on the OKX exchange and was worth $4.47 million in a BTC-USDT-Swap contract.

Crypto Liquidations: Bitcoin Leads the Pack

Soaring from its daily low of $74,589.67, the price of Bitcoin skyrocketed by over 8% to a new high of $82,942.43. This unexpected shift caught short traders off guard as they led the $225.06 million liquidation suffered by Bitcoin in 24 hours, per Coinglass data

Specifically, BTC short sellers accounted for $137 million, while long traders bagged only $87.77 million. Drawing on the correlation between Bitcoin, Ethereum, and the top altcoins, other risk assets were not spared.

While Ethereum bagged a combined crypto liquidation of $161.71 million, XRP recorded $26.75 million. Both top altcoins saw more short liquidations, featuring $99 million for ETH and $17.29 million for XRP. 

This liquidation figure remains a defining factor, as conversations on the XRP versus Ethereum status outlook are taking center stage again.

What Sparked The Bitcoin and Altcoin Price Rallies?

The market opened with a bearish twist as the US-China trade war rages on. However, US President Donald Trump announced a 90-day pause on the tariff for 75 countries that have opened a negotiation channel with America.

This policy shift has triggered a rebound for Bitcoin, and sustainability is now at the forefront of analyst conversations. 

Although the latest crypto liquidation outlook points to market normalization, further escalation presents another headwind. In the latest shift announced by President Trump, China was isolated and slammed with a 125% tariff effective immediately.

Should China announce additional tariffs on US goods, the uncertainty in monetary policies may offset current gains from risk assets.

Beyond Crypto Liquidations: Market Expectations Grow

Since the start of April, the price of BTC has not dropped below $74,000. This resilience has prompted some industry leaders to issue renewed bullish projections on the coin.

Bitcoin advocate Samson Mow called the recent price swing a mini-Godzilla candle, with expectations of price boosts ahead. New growth forecasts align with Bitwise’s $1 million BTC price target, drawing on a dip, then a rip expectation.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on X, Linkedin
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.