Crypto Market Crash: Traders Just Lost $458M But 80-85%% Bets Still Long – More at Risk?

21 Jun, 2025

Former SEO Writer

Expertise : Crypto News & Market Analysis, Content Strategy & SEO Writing

Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.

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Crypto Market Crash: Traders Just Lost $458M But 80-85%% Bets Still Long - More at Risk?

Highlights

Bitcoin dropped to $102.4k, triggering a $458M crypto market crash.
124k crypto traders liquidated, with long positions dominating the loss.
Higher long bets, Bitcoin expiry, and geopolitical tension hint at further crash.

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Bitcoin plummeted once again, hitting $102.4k before attempting a recovery, but it influenced a broader crypto market crash. The geopolitical tension and the unsupportive macroeconomic events have put a strain on investors’ trading strategies. Moreover, crypto prices have been severely affected. As a result, the crypto traders lost $458M in liquidation in the last 24 hours alone, and more is at risk. Let’s discuss.

$458M Wiped Out in Liquidation With the Crypto Market Crash

In the last few days, the trajectory of the digital assets has been either consolidating or bearish. The same is true today, as Bitcoin’s decline resulted in a broader crypto market crash, wiping out $458M in liquidation.

Per CoinGlass data, 124,286 traders were liquidated in the last 24 hours, resulting in a $458M liquidation loss. The prime liquidation is in Ethereum, Bitcoin, Solana, XRP, and others, and the longs have been closed, as their price declines.

Today, BTC price has declined 2%, ETH has lost 4%, and XRP has lost 1.5% of its value, resulting in traders’ long liquidation. Exchange data also reveals that out of the $458M liquidation, $412M was of longs and nearly $45M in shorts.

80-85% Long Trades & Other Factors Hint At Further Crypto Market Crash

The Kingfisher charts reveal that most crypto coins are prone to long liquidations, as the majority of bets are bullish. Moreover, their report has acknowledged that these tokens are prone to dip amid a broader cryptocurrency market crash, which could fuel their liquidation.

Additionally, $4B BTC options expire today, June 21, with a max pain point at $105k. A much bigger expiry is coming on June 27, 2025, with $14.2B notional value at $100k. If the Bitcoin price remains down to the maximum pain, selling pressure could build.

However, if it goes past the expiration level, a short squeeze might form. Overall, uncertainty is looming, especially around a crypto market crash. The Israel-Iran conflict is still active, and the US has hinted at joining the war, so more is at risk.

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.

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Frequently Asked Questions (FAQs)

1. Why is the crypto market struggling these days?

The geopolitical tension and macroeconomic events like the FOMC meeting and others are influencing the crypto market these days.

2. What is the breakdown of the $458M liquidations?

The long positions constitute the major liquidation, totaling $412M out of $458M.

3. What’s coming next?

The crypto market is highly volatile, and there’s high uncertainty amid the ongoing geopolitical tension. The crypto market can continue to crash if the bullish momentum does not build.

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.