Crypto Long Liquidations Hit $584 Million in 24-Hour Sell-Off

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Crypto Long Liquidations Hit $584 Million in 24-Hour Sell-Off

Crypto liquidations totaled $657.9 million over the past 24 hours, as the broader market slid. 

Most of the recent liquidations happened with Ethereum (ETH), and traders who expected its price to continue rising experienced the largest losses.

Ethereum, Bitcoin Longs Drive Monday’s Crypto Liquidation Wave

Over the last 24 hours, approximately 106,371 crypto traders were forced to close their positions, according to data from Coinglass. Of that total, around 89% were ‘long’ positions – bets that the price would go up – resulting in losses of about $584.38 million.

Meanwhile, short bets lost just $73.52 million, showing a one-sided flush of leveraged bulls.

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Ethereum suffered the biggest losses, with $256.83 million worth of bets on its price increasing being closed due to market drops. Bitcoin also experienced significant liquidations, totaling $180.89 million. These two cryptocurrencies together made up about two-thirds of all liquidations for the day.

As a researcher tracking crypto markets, I observed a massive liquidation event on Bitget. A single order involving an ETH/USDT perpetual contract, valued at $28.49 million, was completely closed out.

Risk-Off Mood Sets In After Trump Iran Warning

Over the last 24 hours, the crypto market experienced price drops and a surge in liquidations. This downturn wasn’t a complete surprise, however.

BeInCrypto had previously warned that Monday could see investors move away from riskier assets, following signals from President Donald Trump about potential US military action against Iran.

The overall value of the cryptocurrency market decreased by about 0.93% in the last 24 hours, reaching approximately $2.65 trillion. Bitcoin’s price fell below $77,000, continuing a losing streak this week that now totals 5.59%.

Ethereum’s price dropped below $2,120, resulting in a nearly 10% decrease over the week. Solana experienced an even larger drop, falling 11.22% to $84.94 over the last seven days and leading the overall market decline.

Former President Trump is scheduled to meet with advisors on Tuesday to discuss potential military responses to Iran. Any increase in tensions could cause significant instability in the cryptocurrency market, especially for those using borrowed funds.

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2026-05-18 06:26