Ether bets were wiped out at six times bitcoin’s rate in crypto’s $1 billion flush
Summary
A late-Thursday crypto selloff triggered $1.19 billion in liquidations over 24 hours, including $356 million in ether and $298 million in bitcoin. More than $1 billion came from leveraged traders betting on rising prices. Ether suffered roughly six times more liquidations relative to market value than bitcoin, while its price fell over 3% to about $2,490. Fed minutes, rising Iran tensions, and concerns about AI threats to crypto wallets added to market anxiety. Bitcoin later rebounded after President Trump said the U.S. would not strike Iran before the midterms, prompting a short squeeze: most recent liquidations were traders betting on further declines.
