Liquidations near $130M as Bitcoin dips below key $25k support

Bitcoin shed approximately 3.10% of its market value on June 14, triggering significant liquidations across the crypto market within a four-hour window.

Data from CoinGlass shows that $124.2 million in liquidations occurred during the four-hour period ending at 9:45 p.m. UTC.

Liquidations (Source: CoinGlass)

Bitcoin accounted for $37.9 million of these liquidations, while Ethereum accounted for $55.3 million. Together, the two assets represented approximately 75% of all liquidations.

XRP contributed $4.1 million to the total, while Litecoin (LTC) accounted for roughly $2.9 million. Other cryptocurrencies individually contributed $1.5 million or less to liquidations, aside from the collective $8.1 million attributed to other tokens shown in the chart above.

More than 40,600 traders were liquidated over a 24-hour period.

Three exchanges—OKX, Binance, and Huobi—were responsible for the majority of these liquidations. They recorded $38.1 million, $36.8 million, and $27.8 million in liquidations, respectively. Combined, these three platforms accounted for over 80% of all liquidations.

Bitcoin falls below $25K mark

Data from TradingView indicates that Bitcoin’s price dropped 3.10% over four hours. The price briefly touched $24,922 before recovering to $25,908 by 9:45 p.m. UTC.

BTCUSD (Source: TradingView)

Other top-ten cryptocurrencies also experienced comparable value losses over 24 hours, according to CoinGecko data. Ethereum (ETH) is down 3.2%, Binance Coin (BNB) is down 2.1%, XRP is down 8.5%, Cardano (ADA) is down 5.1%, Dogecoin (DOGE) is down 3.5%, and TRON (TRX) is down 1.6%.

The total cryptocurrency market capitalization has also declined by 3.4% over the past 24 hours and is currently valued at $1.06 trillion.