Ethereum News Update: Bitcoin Price Swings Trigger $2.95B Wave of Crypto Liquidations
- Crypto market saw $2.95B in leveraged liquidations as Bitcoin surged past $116,000, triggering massive short position collapses and heightened volatility. - Ethereum faced $522M in 24-hour liquidations while ETHZilla liquidated $40M in ETH for share buybacks, raising concerns about price stability. - Traditional markets contrasted crypto turmoil with $170.6M in corporate buybacks, while Bitmain's $135M ETH purchase signaled institutional confidence. - Blazpay's $925.7K presale raised investor confidence
The cryptocurrency sector underwent a dramatic upheaval between October 27 and 28, 2025, as rapid price fluctuations led to the liquidation of more than $2.95 billion in leveraged trades within just one hour. This turbulence was primarily fueled by sudden movements in
On October 27, Bitcoin’s climb above $116,000 alone wiped out $19.15 million in short bets, with most of the action taking place on Binance. Open interest jumped from $33 billion to over $36 billion, and with 40% of positions being shorts, bearish traders faced significant risk. Data from
Ethereum was not spared from the turmoil, with global liquidations reaching $522 million in a single day, including a $6.09 million position closed on Hyperliquid, as reported by
Traditional markets also saw notable corporate maneuvers.
Yet, not all news was encouraging.
Institutional activity also made headlines. Bitmain, a major Bitcoin mining company, reportedly
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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