The cryptocurrency market just witnessed one of the worst hours in its short history as nearly $1 billion in positions got wiped out in an hour.
As per the onchain analytics platform CoinGlass , crypto positions worth $971.06 million got liquidated in an hour. $956 million in long and $15 million in short positions got wiped out.
Bitcoin (BTC) led the rout with $507 million, followed by Ethereum (ETH) with $195 million.
Within the last 24 hours, nearly $2 billion got wiped out. BTC again led with $966 million, with ETH worth $408 million.
The total crypto market cap dropped 9.5% in the last 24 hours to $2.82 trillion at the time of writing. BTC similarly fell 10.7% in a day to $81,738.83.
Related: Popular crypto company shuts down as Bitcoin crashes
The Crypto Fear and Greed Index fell as low as 11, indicating "extreme fear" among crypto traders.
Crypto crash spares nobody
The crypto crash that began on Oct. 10 following President Donald Trump's tariff threat against China continues to spook the market. Since then, the market has failed to recover and nobody has been able to escape the heat.
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In fact, the controversial online personality Andrew Tate suffered a complete wipeout of his trading balance on the crypto derivatives exchange Hyperliquid.
Jeffrey Huang, the Taiwanese music celebrity and high-profile crypto trader popularly known as "Machi Big Brother," has been liquidated 145 times since the October crash.
Prominent dApp analytics platform DappRadar decided to wind down operations, blaming the "current environment."
As per the onchain analytics platform Onchain Lens , a whale got completely liquidated on its BTC long position, losing $7.5 million.
Veteran trader Peter Brandt, who called the 2018 Bitcoin crash, has predicted that BTC could crash as low as $58,000. "Those who now claim they will be big buyers at $58K will be pukers by the time BTC reaches $60k," he warned.
This story was originally reported by TheStreet on Nov 21, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
