$1.15 Billion Liquidated as Bitcoin and Ether Lose Critical Support Levels

Over $1.15 billion in leveraged positions were wiped out as bitcoin and ether broke below key support levels, with Bybit and Hyperliquid seeing the heaviest liquidations.

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Posted September 26, 2025 at 10:17 am ET.

Crypto traders faced a tsunami of liquidations on Thursday as major crypto assets led the wider market lower.

Data from CoinGlass shows that the total amount liquidated over 24 hours exceeded $1.15 billion, with 91% of that total coming from traders in long positions.

Over $400 million in ETH longs were liquidated as the price of ether fell 8% to an intraday low of $3,829.

“Today we’re seeing the largest ETH long liquidations since September 2021. The last time this happened ETH went up 46% the month after,” said Ethereum trader @CryptoGucci on X.

This story is an excerpt from the Unchained Daily newsletter.

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Meanwhile, Bitcoin represented $266 million of liquidated longs, as the leading digital asset lost support above the $110,000 mark, dropping 4% to an intraday low of $109,129.

The majority of liquidations took place on Bybit, followed closely by decentralized exchange Hyperliquid.

“Bitcoin shows signs of exhaustion after the FOMC rally. Long-term holders have realized 3.4M BTC in profits, while ETF inflows slowed,” noted Glassnode in its latest newsletter.

Economist and trader Alex Kruger said on X that we are now in the “desperate zone, where people who are levered up or have no conviction dump.”