ETH and XRP Traders Take Heavier Losses Than BTC Amid $630 Million in Bullish Liquidations

Altcoins Lead Losses as $735M in Crypto Leverage Gets Flushed

A sharp market pullback on Tuesday triggered a wave of liquidations across crypto derivatives, with long positions accounting for the majority of the nearly $735 million wiped out.

Ethereum (ETH) and XRP traders absorbed the largest hits, surpassing even Bitcoin (BTC) in notional losses—a sign of increased speculative interest in altcoins. ETH liquidations totaled $152.78 million, followed by $88.58 million in XRP. BTC long positions saw a more modest $65.29 million in liquidations, despite the asset’s dominant market cap and relatively stable price action.

Out of the total liquidations, $625.5 million came from long positions, indicating that bulls were largely caught off guard by the sudden drop following weeks of upward momentum.

Other notable liquidations included:

• Solana (SOL): $41 million
• Dogecoin (DOGE): $40 million
• Smaller DeFi tokens SPK and PUMP also saw $10M+ in leveraged trades unwound.

The lack of a clear macro catalyst suggests the selloff was likely driven by technical resistance and profit-taking near key levels. ETH had recently tested $4,000, while BTC topped $118,000 before pulling back.

At last check:

• ETH was down 3.6%, trading at $3,540
• XRP fell 6% to $3.25, with a 12% weekly loss
• BTC dropped 1.9% to $116,800

Crypto liquidations are triggered when leveraged positions fall below margin requirements, forcing exchanges to close them. These events often spark increased volatility and can lead to cascading losses.

Traders analyze liquidation data for signals. Spikes in long liquidations may indicate oversold conditions and potential bottoms. Conversely, heavy short liquidations can precede sharp rebounds. Combined with funding rates and open interest, liquidation metrics serve as key tools for navigating high-leverage environments.

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