The short dip of Bitcoin in the last 24 hours has caused one of the heaviest clearing rounds of recent.
According to Coinglass data, crypto traders betting on the market lost $816.6 million, with over 179,000 traders being forced out of positions.
Speaking about this extensive liquidation event, Sean Dawson, head of research at Derive.xyz, said cryptoslate:
“This sharp move is a result of overcovered positioning, especially following ETH’s recent runs, and appears to be an overnight DIP on the S&P 500.
In particular, the most important single liquidation came from a BTC-USDT order worth $39.2 million on HTX.
Those who bet on price increases absorbed the majority of their losses, giving up $699.5 million, while shorts lost $122.2 million. This skew towards the Longs suggests that traders misjudged the strength of recent rallys, making them vulnerable when prices recede.
Bitcoin accounted for the most sudden losses, with traders losing more than $270 million in a day. On August 25th, GlassNode said it had wiped out its long position of over $150 million, marking one of the biggest flashes since December 2024.
Ethereum continued with a $266 million liquidation and also dominated long bets. Other key assets, including Solana, Dogecoin and XRP, saw additional drawdowns of $38.5 million, $18.8 million and $17.3 million, respectively.
Bitcoin can be immersed in $100,000
Meanwhile, data from derive.xyz shows that key liquidation has increased bearish feelings among market participants.
Data from the Crypto Derivatives Trading Platform showed that Crypto Traders had a 35% chance of Bitcoin dropping to $100,000 by the end of September, and 55% chance of Ethereum being able to redisplay $4,000.
Dawson explained that skew at 25-delta has turned negative in both BTC and ETH. In other words, traders are paying for downside protection rather than upward exposure.
According to him:
“This is the strongest demand for underside protection we’ve seen in two weeks. It appears that traders are paying a potential retest of $4,000 for ETH and $100,000 for BTC.”
He further stated that macroeconomic headwinds and volatility are squeezing the outlook and resetting risk appeals across the market.
Bitcoin Market Data
When reporting 11:54 on UTC on August 26th, 2025Bitcoin ranks number one in terms of market capitalization, and the price is under 0.81% Over the past 24 hours. Bitcoin has a market capitalization 2.2 trillion dollars 24-hour trading volume $806.8 billion. Learn more about Bitcoin›
Overview of the Crypto Market
When reporting 11:54 on UTC on August 26th, 2025Crypto market totals are evaluated by $3.8 trillion There is a 24-hour volume $21.359 billion. Bitcoin’s advantage is currently underway 57.79%. Crypto Market Details›