When Crypto Whales Cry: The $620 Million Liquidation Saga! 🐋💔

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Ah, the crypto market, that fickle mistress, has begun the week with a dramatic swoon, as a veritable tsunami of liquidations has swept away a staggering $620.5 million in just 24 hours. Who knew that digital coins could be so dramatic?

It appears that Bitcoin, that ever-volatile protagonist, has taken a nosedive, plummeting to a mere $80,000 over the weekend. This sudden descent has sent traders scrambling, like ants fleeing a disturbed anthill, as margin calls echoed through the digital corridors of finance.

Crypto Market Hit by $620 Million Liquidation Wave

According to the oracle known as Coinglass, the past day has witnessed a veritable bloodbath, with 225,381 traders liquidated. One can only imagine the collective gasp of disbelief! 😱

Long positions, bless their optimistic hearts, bore the brunt of this calamity, suffering losses amounting to $529.4 million. Meanwhile, short positions, ever the opportunists, saw a mere $91.1 million in liquidations. It seems the shorts are having a party while the longs are left to mourn.

Bitcoin, the star of this tragicomedy, led the liquidation parade with $239.5 million in positions obliterated. A staggering $205.6 million was lost by long traders who, it seems, were caught napping as the market turned against them. The pièce de résistance? A single liquidation order on Binance worth $32.0 million. Bravo! 👏

Analyst Ash Crypto, in a moment of poetic reflection, lamented the severity of the market’s turmoil in a recent post on X (formerly Twitter).

“Bitcoin long liquidations in all exchanges exceeds 3AC, Celsius and FTX collapse,” the post read, as if reciting a tragic verse.

Data from CryptoQuant reveals that Bitcoin’s long liquidations surged to 14,714 yesterday. For context, during the Celsius crash, 13,453 BTC were liquidated, while the FTX debacle saw a mere 1,807 BTC meet their untimely end. The Three Arrows Capital (3AC) meltdown? A paltry 1,311 BTC. What a time to be alive!

As Bitcoin grapples with its existential crisis, it faces renewed downward pressure. In a twist of irony, President Donald Trump’s Strategic Bitcoin Reserve executive order has sent Bitcoin’s value tumbling. Who would have thought that a government order could be so… counterproductive?

As recession fears loom like dark clouds, the market’s uncertainty grows thicker.

“An ugly start to the week. Looks like BTC will retest $78,000,” Arthur Hayes, former BitMEX CEO, mused, perhaps while sipping a cup of despair.

He predicts that if $78,000 fails to hold, the next critical support level will be $75,000. A veritable game of financial chess, where every move could lead to heightened volatility.

For now, BTC clings to life above $80,000, trading at $82,629, down 3.9% in the past 24 hours. A true testament to the resilience of digital currency! 💪

Market Plunge Forces Crypto Whales Into Liquidation Chaos

The ripple effect of Bitcoin’s price drop has reverberated throughout the sector, with the total crypto market cap suffering a $148 billion loss. Ethereum (ETH), the second most affected asset, has seen $108.5 million in liquidations. As per BeInCrypto data, ETH is down 5.3%, trading at $2,062. A sad day for the Ethereum enthusiasts!

Whales, those mighty creatures of the crypto sea, are now facing the threat of massive liquidations. According to Lookonchain data, one whale holding 65,675 ETH (worth $135.8 million) on

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2025-03-10 11:54