Massive $840M in Long Liquidations Signal Possible Market Reversal After Crypto Crash
A wave of liquidations swept through the crypto futures market over the past 24 hours, with more than $840 million in bullish positions wiped out as Bitcoin (BTC) and other major cryptocurrencies tumbled sharply. The abrupt sell-off has some analysts questioning whether a reversal may be near, potentially signaling a turning point driven by excessive fear.
Data from CoinGlass shows that leveraged BTC traders absorbed over $322 million in long-side losses, while Ethereum (ETH) bulls saw nearly $290 million in positions liquidated. Altcoins were hit even harder, accounting for roughly $400 million in liquidations, with XRP and Solana (SOL) futures alone making up a hefty $80 million chunk of that figure.
Bitcoin slid below $77,000, marking its worst start ever to April — a month typically associated with strong performance. ETH also nosedived, dropping as much as 15% to touch $1,500.
Other major tokens weren’t spared: SOL, XRP, and Dogecoin (DOGE) each fell up to 15%, before slightly stabilizing during early Asian trading hours. Meanwhile, BNB showed relative strength with a smaller 6% decline. Broader market pain spread across mid-cap and small-cap tokens, with many logging double-digit losses of 10-20%, according to CoinGecko.
Liquidation data reveals the market had been skewed heavily to the upside — with 86% of futures positions betting on a rally. Many traders expected recent macro concerns to be already priced in, positioning for a rebound that didn’t arrive.
In crypto, a liquidation occurs when a trader’s leveraged position is forcibly closed due to insufficient margin. When liquidations cascade, it often reflects panic and extreme sentiment — conditions that can precede a bounce or trend reversal.
This crypto bloodbath comes as global markets remain shaken by President Trump’s tariff escalation, which triggered a massive sell-off in risk assets. U.S. stock index futures slumped roughly 5% as Monday trading resumed after the weekend.
Amid the chaos, hedge fund manager Bill Ackman called for a presidential “time out,” warning that pursuing an economic “nuclear war” could trigger lasting damage.
