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ZEC Crypto market turmoil violently: Bitcoin's collapse triggered more than US$1 billion in liquidation
Leveraged traders in the cryptocurrency market suffered huge losses. As Bitcoin prices fell sharply, major digital asset exchanges triggered more than US$1 billion in forced liquidations. According to CoinGlass, in 24 hours, market clearing totaled US$1.09 billion, involving 181,077 traders holding leveraged positions.
Long traders are the main bearers of this loss. When the price of Bitcoin fell from about US$86,000 to around US$82,000, a massive wave of forced liquidations was triggered. Among them, the liquidation amount of long positions reached US$930.54 million, accounting for about 85% of the total market losses. In comparison, the losses on short positions were smaller, at just $161.85 million, highlighting the high-pressure environment faced by investors betting on higher prices. It is worth noting that decentralized exchange Hyperliquid recorded the single largest personal liquidation event, involving a US$19.98 million Ethereum position.
Comparison of Historical Data and Market Background
Looking back at historical liquidation data, this market turmoil is one of the most serious fluctuations since August. There was a liquidation peak of nearly US$3 billion on August 20 this year, and the forced liquidation amount on September 22 was also about US$1.1 billion. The continued decline in Bitcoin this time has made it difficult for leveraged traders to maintain positions, thus exacerbating market risks.
Increase in short clearing in rebound
As Bitcoin attempts a price recovery, market conditions change and short sellers begin to experience more liquidation pressure. During the last four hours of trading, a total of US$16.64 million in positions were cleared, of which short positions accounted for US$13.39 million. Short liquidations are particularly concentrated on the Hyperliquid platform, with 99.96% of its reported activity coming from bearish positions.
At the same time, Zcash's short positions are under pressure to close out around $1,234 as buying activity re-intervenes. The subsequent hourly clearing amount dropped to US$5.6 million, indicating a easing of mandatory trading activity in the cryptocurrency derivatives market.
Key Prices and Future Outlook
Currently, Bitcoin is trading in the range of US$80,000 to US$82,000, which is considered a key support area. Investors are watching closely to see whether selling pressure will intensify further. If the market can achieve sustained recovery, prices are expected to return to above US$86,000; otherwise, if it continues to decline, it may trigger a new round of long liquidations.
Despite reduced hourly losses, the cryptocurrency market remains exposed to additional volatility risks as leveraged traders continue to adjust their positions in response to previous sell-offs. Market participants need to remain vigilant and pay close attention to price trends and liquidity changes.
