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

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.