Ethereum falls 6%, leaving $1.35 billion in long bets at risk of liquidation

Ethereum’s slide toward $2,500 has put about $1.35 billion of leveraged long positions at increasing risk of liquidation.

CoinMarketCap data showed roughly $1.35 billion of ETH long exposure sat at liquidation levels below the prevailing price, compared with about $999.78 million of shorts vulnerable above it. The figures represent positions exposed across a range of lower price levels rather than a single liquidation threshold.

The nearest pressure point is already approaching. About $112.83 million of ETH longs on Hyperliquid were positioned to liquidate around $2,511, CoinMarketCap said. When ETH traded at $2,605.65, the distance to that level had narrowed to about 3.6%, compared with a 7.4% cushion a day earlier.

The risk comes after ETH fell 5.9% over the last 24 hours to $$2,570 as of press time, according to CryptoSlate's data, extending a break from the $2,700 area that had contained the token despite several days of institutional selling.

Available data shows that the latest price break triggered a sharp wave of forced closures before Ethereum has even reached the nearest major liquidation cluster.

CoinGlass data showed $233.36 million of ETH positions were liquidated over the last 24 hours, with long traders accounting for $221.87 million, or about 95% of the total.

Of this, roughly $226.22 million was wiped out over 12 hours, including $216.11 million of long exposure.

Notably, Ethereum also accounted for the largest single liquidation across the broader crypto market, with a $26.64 million ETHUSDC position on Binance forced closed.

The scale of those losses makes the remaining liquidation map more consequential. Liquidation maps do not mean every identified position will automatically be closed. They instead show where leveraged trades become increasingly vulnerable as prices move through successive thresholds.