The cryptocurrency market suffered a sharp selloff late Tuesday. At 11:45 p.m. Beijing time on March 19, Bitcoin (BTC) plunged below the $69,000 mark, while Ethereum (ETH) broke down through $2,100 support. The broad downturn set off a cascade of forced liquidations across the derivatives market.
129K Traders Liquidated, $458.67 Million Wiped
According to CoinGlass data, the past 24 hours saw 128,831 traders forcibly closed out, with total liquidations reaching $458.67 million. The vast majority were long positions, indicating that leveraged bulls built during the prior days' optimism were crushed in this sudden rout.
Whale Position on Hyperliquid Liquidated for $10.81M
The extreme volatility even caught a major whale. Data shows the single largest liquidation order in the last 24 hours hit the decentralized perpetual exchange Hyperliquid — a BTC-USD long position worth $10.81 million was wiped out, setting a new record for a single liquidation event. Bitcoin continues to oscillate near the $69K level, with fear spreading across the market. Analysts caution that amid macroeconomic uncertainty and a risk-off mood, liquidity could shrink further, urging traders to manage risk and avoid catching a falling knife.