Tonight 's cryptocurrency market was undoubtedly a long nightmare for bulls. Following an earlier sharp drop, the decline widened further before midnight. At 11:45 PM Taiwan time on March 19, Bitcoin (BTC) once again sought support, officially breaking below the $69,000 level; Ethereum (ETH) also fell in tandem, dropping below the $2,100 mark.
Nearly 130,000 people were liquidated, with a total liquidation amount of $458 million.
As prices continued to break down, leveraged liquidations in the futures market collapsed like dominoes. According to CoinGlass data, a total of 128,831 investors worldwide were forced to liquidate their positions in the past 24 hours.
The total amount of liquidations across the entire network has rapidly climbed to US$458.67 million (approximately NT$14.5 billion). The vast majority of those liquidations long, indicating that after the market's optimism of the previous days, highly leveraged long positions are now paying a heavy price.
"Super Whale" Falls! Single Margin Call Exceeds Ten Million Dollars
It's worth noting that even well-funded whale are not immune to extreme market conditions. Data shows that the largest single liquidation in the past 24 hours occurred on the decentralized perpetual contract exchange Hyperliquid, where a BTC-USD long position was liquidated, resulting in a staggering loss of $10.81 million (approximately NT$340 million), breaking the recent record for the largest single liquidation.
Panic is spreading in the market, and Bitcoin is still fluctuating wildly around $69,000. Analysts are urging investors to strictly manage their positions and avoid blindly buying at the current lows, as market liquidity may further contract under the dual pressure of overall economic uncertainty and risk-off sentiment.
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Breaking News: Bitcoin plunges 5% in a day, falling below $70,000! Funding rates remain bearish.
