Bitcoin News Update: Hyperliquid Faces $21 Million Liquidation, Highlighting Dangers of Leverage in Unstable Crypto Markets
- Crypto markets saw $1.134B in 24-hour liquidations, led by BTC-USD position closures as leverage risks intensified. - Hyperliquid's $21.43M BTC liquidation highlighted platform's role in volatile trading, outpacing Bybit and Binance. - Fed Chair Powell's caution against rate cuts and Trump's fentanyl tariff deal triggered renewed crypto selling pressure. - Bitcoin's "death cross" pattern and $470M ETF outflows signal bearish momentum amid leveraged position fragility.
The cryptocurrency market saw significant turbulence over the past day, with global liquidations reaching $1.134 billion as
This wave of selloffs came after Federal Reserve Chair Jerome Powell issued a warning against making aggressive bets on further interest rate cuts, dampening investor sentiment. Powell’s statement followed the Fed’s recent 25-basis-point cut to a range of 3.75%-4%, but his caution against "a series of further cuts" sparked renewed selling in the crypto sector, as noted in a
The $21.43 million liquidation on Hyperliquid highlighted the vulnerability of leveraged BTC-USD trades, which continues to be the most traded pair. Hyperliquid led with $282 million in total liquidations during this period, surpassing Bybit ($223 million) and Binance ($144 million), according to the report. At the same time, Bitcoin’s price volatility triggered widespread deleveraging, with open interest in futures dropping from a monthly peak of $94 billion to $73 billion. This was accompanied by $470 million in outflows from spot Bitcoin ETFs, primarily from Fidelity’s FBTC and
Technical signals also pointed to continued bearish momentum. Bitcoin’s price, hovering near $110,000, was close to forming a "death cross"—a pattern where the 50-day and 200-day moving averages intersect, often seen as a sign of further declines. On Hyperliquid, on-chain data showed $22 million in long positions at risk if the HYPE token, the platform’s native asset, drops to $46, according to an
The recent spike in liquidations highlights the dangers of leveraged trading in crypto, where sharp price movements can trigger a chain reaction of position closures. As investors contend with both macroeconomic challenges and technical breakdowns, platforms like Hyperliquid are becoming central to market volatility, underscoring the importance of careful risk management.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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