Overview

• Roughly $1.7–$1.8 billion in positions were liquidated within 24 hours, overwhelmingly longs, with more than 370,000 traders affected.
• Bitcoin briefly slipped into the low $111,000s and steadied near $112,000, while Ethereum hovered around $4,100–$4,200 after the flush.
• Ethereum absorbed the heaviest long liquidations at about $500 million, more than double Bitcoin’s, as total crypto market value fell by roughly $150 billion to about $3.95–$3.98 trillion.
• Put‑buying and put‑call skew rose to multi‑week highs as funding turned negative and open interest retrenched, reflecting defensive positioning.
• Analysts highlighted a deleveraging event with key BTC supports at $112,000, $111,400, and $110,000, and noted ongoing institutional interest with about $512 million flowing into a BlackRock ETH fund last week.