Crypto markets saw another sharp sell-off in the early hours of May 19, with Bitcoin briefly wicking down to $76,111 and Ether falling below the $2,100 level to a low of $2,076. As spot prices dropped quickly, the derivatives market was hit by a wave of forced liquidations, pushing total liquidations over the past 24 hours to $840 million.
Bitcoin tests $76,000 area while Ether breaks below $2,100
Market data showed heavy downside pressure across the two largest cryptocurrencies during overnight trading. Bitcoin fell to $76,111 at its lowest point, putting bullish support back under pressure. Ether saw a steeper drop, breaking through the psychologically important $2,100 mark and touching $2,076. The speed of the move widened volatility across the market.
$840 million liquidated as 127,008 traders are wiped out
According to CoinGlass, the sell-off triggered severe losses in the derivatives market. Total liquidations across the market reached $840 million over the last 24 hours, with 127,008 traders forcibly closed out. The largest single liquidation took place on Bitget in the ETHUSDT_UMCBL pair, where one position posted a loss of $28.49 million.
Leveraged positions face another stress test
The move highlighted the risks tied to heavily leveraged crypto trades during fast market swings. As spot prices fell, liquidation cascades followed and selling pressure intensified in a short period. With volatility still elevated, position sizing and leverage control are back at the center of trading risk.