Nearly $450M Wiped Out as Crypto Liquidations Spike Amid Market Slide

Almost half a billion dollars in leveraged crypto positions were wiped out on Thursday as digital assets faced another turbulent day. The global cryptocurrency market fell about 2.2% over the past 24 hours, erasing roughly $442 million in liquidations—$377 million of which came from long bets.

Ethereum bore the brunt, with over $180 million in liquidations after sliding 4.2% on the day and nearly 13% over the week. Bitcoin followed with around $63 million in liquidations despite a modest 1.4% daily dip. Other major tokens also took heavy hits: Solana dropped 5.1%, triggering about $35 million in liquidations, while several smaller projects endured double-digit losses.

Despite the overall downturn, only a handful of top non-stablecoin cryptocurrencies managed to stay positive on the week. Global political developments, including high-profile diplomatic talks at the United Nations, briefly raised hopes of easing geopolitical tensions, but these factors have yet to lift sentiment in crypto markets.

For now, traders remain focused on U.S. Federal Reserve policy and key labor data, which continue to steer medium- and long-term capital flows.