The cryptocurrency market has seen heightened volatility, leading to significant liquidations. Over the past week, liquidations have totaled over $2 billion, reflecting an unstable market atmosphere.
A Week of High-Stakes Volatility
From May 30 to June 5, 2025, the crypto market experienced dramatic price fluctuations, triggering massive liquidations across centralized exchanges. According to CoinGlass, the week began with a significant downturn on May 30, when total liquidations reached $841 million in a single day, with $747 million coming from long positions. Bitcoin, trading near $104,000, was the epicenter of this carnage, contributing $222 million to the liquidation tally.
The Past 24 Hours: $435 Million Wiped Out
In the past 24 hours, the market continued to exhibit significant swings, recording liquidations totaling $435 million. Ethereum led with $78 million, followed by Bitcoin at $70 million and Solana at $25 million. This data underscores the widespread impact of recent market convulsions.
Market Sentiment and Technical Outlook
The heavy liquidations reflect a market caught in a tug-of-war between bullish optimism and bearish corrections. Technically, the total cryptocurrency market cap may risk falling toward $3.1 trillion if the $3.22 trillion level is breached. However, some analysts believe that the scale of liquidations may indicate a turning point for the market.
The recent wave of liquidations in the crypto market highlights the risks of leveraged trading and the need for caution amongst participants. Investors and traders should remain vigilant to macroeconomic developments and their potential impacts on crypto assets.
