November 17 2025
The recent decline in Bitcoin from its record high of $111.000 has triggered a wave of liquidations, wiping out a whopping $560 million worth of positions.
The price of Bitcoin (BTC) has led to a significant liquidation of futures positions. On Friday, May 23, 160.905 traders on crypto exchanges were affected, with a total of $563,2 million in eliminated positions.
Of this, $418,63 million was in long positions and $144,35 million was in short positions. Coinglass reported that the largest individual liquidation was a BTC-USDT bet on OKX, worth $9,53 million.
The biggest losses were suffered by Bitcoin traders, with a total of $153,04 million in liquidations, while Ethereum followed closely behind with $144,19 million. In both cases, long positions made up the vast majority of the liquidated positions, likely due to increased volatility.
Over the past 24 hours, Bitcoin price has fallen from its all-time high of $111.970 to the $107.000 range before rebounding to $109.231. Ethereum has retreated from a daily high of $2.731 to a low of $2.508 before rebounding to $2.574.
Both major crypto assets suffered a decline shortly after US President Donald Trump threatened new punitive tariffs on the EU and Apple. Rising trade tensions have a greater impact on risky assets like Bitcoin and Ethereum compared to many other assets. This is because traders are less inclined to make risky bets in a potential low-growth environment.
Despite this, Bitcoin has proven relatively resilient during the trade war. The asset surpassed its previous peak in November, which coincided with Trump’s inauguration. Ethereum, on the other hand, has remained well below the $4000 level it broke in November.
Bitcoin’s resilience can be attributed to its image as “digital gold.” Traders, including institutional investors, are beginning to view Bitcoin as an anti-inflationary and counter-cyclical asset that tends to perform well in uncertain market conditions.
“In the crypto world, what goes down must come up – unless you're wearing wolf's clothing!”
Let the developments in the crypto market inspire you to stay actively involved. The dynamics of this market are fascinating and offer plenty of opportunities. Stay informed and take the next step in your crypto journey!
How did the liquidations come about?
The liquidations are primarily a result of Bitcoin's recent price volatility, which has seen traders with long positions reduce their stakes.
What is the trade war doing to the crypto market?
The trade war creates an uncertain environment, making traders more cautious and less likely to invest in risky assets like cryptocurrencies.
Why is Bitcoin considered “digital gold”?
Bitcoin is increasingly seen as a hedge against inflation and a safer investment in uncertain times, similar to the role of gold in traditional markets.
Bitcoin (BTC)
Ethereum (ETH)
XRP (XRP)
