Crypto Market Under Pressure: Over $2 Billion Wiped Out in 24 Hours

Jakarta, Pintu News – The crypto market has been rocked hard again after more than $2 billion of leveraged positions were liquidated in just one day. Large assets such as Bitcoin (BTC) and Ethereum (ETH) plummeted sharply, sparking fears of a larger wave of corrections to come.

A Wave of Massive Liquidations

Data from Coinglass revealed that the market experienced one of the most brutal liquidation sprees since the big crash in October. In the last 24 hours:

• Bitcoin longs liquidated for $966 million
• Ethereum longs suffered losses of around $407 million
• Total liquidation reached $2 billion, including long and short positions

The largest liquidation occurred on the Hyperliquid platform, with a single BTC-USD position worth $36.78 million vanishing.

Also Read: 4 Bitcoin Indicators that Triggered the Market Rally Reappear!

Options Maturing, Whale on the Move

The situation is further complicated as the market is preparing for the maturity of $4.2 billion worth of crypto options, covering:

• 39,000 BTC option contracts
• 185,000 ETH option contracts

Many traders take put positions (price down bets), reflecting the expectation of a continued decline. Meanwhile:

• A legendary Bitcoin whale who held BTC since 2011 sold 11,000 BTC worth $1.3 billion
• On the other hand, another whale bought $65 million BTC around the $85,000 level.

Thin Liquidity, Fragile Market

The market crash this time stems from the $19.5 billion mass liquidation event in October, which shattered market confidence and made major market participants extremely cautious. As a result:

• Market liquidity becomes fragile
• Small price movements can trigger a domino effect

Even so, networks like Solana and infrastructure like Fireblocks remain stable and can handle spikes in activity, providing some hope amidst the chaos.

Next Market Direction?

With macro uncertainty, outflows from crypto ETFs, and whale action, the crypto market is on edge. Traders are now focused on watching:

• Will the correction continue?
• Or is this an accumulation opportunity before the big rebound?

Also Read: 5 Shocking Facts: This US Congressman Secretly Bought IDR 41 Billion in Bitcoin!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

FAQ – Crypto Market Crisis and Its Impacts

Q1: What was the main cause of the $2 billion loss in 24 hours?
A1: A wave of liquidation of leveraged positions (both long and short) amid the Bitcoin and Ethereum price declines.

Q2: What is “max pain point” and how does it affect options?
A2: Max pain is the price at which the option incurs the greatest loss for the option holder. For BTC it is currently around $98,000, which is well above the market price, putting additional pressure on sentiment.

Q3: Why is whale selling his BTC now?
A3: Some whales may be taking profits or anticipating further declines. However, this action triggers selling pressure in the market.

Q4: Is there any sign of accumulation amidst this pressure?
A4: Yes, some whales reportedly bought $65 million worth of BTC around the $85,000 level, signaling strategic buying interest.

Q5: What should investors pay attention to right now?
A5: Focus on market liquidity, whale movements, and post-option maturity market response. Volatility is likely to remain high in the near term.

Reference:
NewsBTC – Crypto Market Remains on Edge After Over $2B Wiped Out in the Last 24 Hours. Accessed November 22, 2025.