{"id":29572,"date":"2025-05-31T10:31:45","date_gmt":"2025-05-31T10:31:45","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=29572"},"modified":"2025-05-31T10:31:45","modified_gmt":"2025-05-31T10:31:45","slug":"crypto-bulls-rack-up-600m-liquidations-as-bitcoin-drops-under-104k","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=29572","title":{"rendered":"Crypto Bulls Rack up $600M Liquidations as Bitcoin Drops Under $104K"},"content":{"rendered":"<div>\n<p>Crypto markets saw a wave of liquidations in the past 24 hours as bitcoin (BTC) prices slipped under $104,000, triggering over $600 million in forced closures of bullish futures positions to mark the highest losses since February.<\/p>\n<\/p>\n<p>A total of $688 million in liquidations hit traders, with 89% of them on the long side \u2014 reflecting a heavily bullish market. The largest single liquidation order was a $12.25 million BTC\/USDT on OKX, Coinglass data shows.<\/p>\n<p>Bitcoin-tracked futures led losses at over $153 mmillion, followed by Ethereum (ETH) at around $122 million. Solana (SOL) faced liquidations totaling about $33 million, XRP futures at $30 million, and Dogecoin (DOGE) futures at over $22 million.<\/p>\n<\/p>\n<p>&#8220;Markets went red on Friday on renewed tariff-related apprehensions,&#8221; said Alex Kuptsikevich, chief market analyst at FxPro, in an email to CoinDesk.<\/p>\n<\/p>\n<p>U.S. President Donald Trump accused China of violating a bilateral trade deal, prompting him to double tariffs on steel and aluminum to 50% to protect domestic industries. He claimed China reneged on a May agreement to ease trade tensions, adding that he might discuss the matter with President Xi.<\/p>\n<\/p>\n<p>While China is a top steel exporter, most of its steel is already subject to existing tariffs, <a href=\"https:\/\/www.reuters.com\/world\/china\/trump-says-china-has-totally-violated-agreement-with-us-tariffs-2025-05-30\/\">per Reuters<\/a>. Trump\u2019s move rattled global trade markets, with potential implications for key minerals and overall relations between the two nations.<\/p>\n<\/p>\n<p>The broader crypto market was also swept by the sell-off, with Ether down nearly 4%, XRP and Solana falling around 4-5%, and Dogecoin diving over 8% on the day.<\/p>\n<\/p>\n<p>Data from Deribit shows open interest in Bitcoin futures has surged 51% since April, with options up 126%, signaling increasing investor appetite for leverage. But whales \u2014 large holders with more than 10,000 BTC \u2014 have shifted from accumulation to net selling, sending coins back to exchanges in a classic sign of profit-taking.<\/p>\n<\/p>\n<p>A cascade of liquidations often indicates market extremes, where a price reversal could be imminent as market sentiment overshoots in one direction. Still, the renewed tariff flare-up, combined with a jittery derivatives market, has traders bracing for more volatility ahead.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Crypto markets saw a wave of liquidations in the past 24 hours as bitcoin (BTC) prices slipped under $104,000, triggering over $600 million in forced closures of bullish futures positions to mark the highest losses since February. A total of $688 million in liquidations hit traders, with 89% of them on the long side \u2014 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-29572","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29572"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/29572\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}