Betting on a major rally leads to a bloodbath! Crypto market sees "Black Monday," with over $600 million in long positions liquidated.

ORIGINAL押寶大行情慘遭血洗！幣市上演「黑色星期一」，多頭爆倉逾 6 億美元

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A global macroeconomic storm is sweeping through the cryptocurrency market at an alarming speed. Driven by inflation anxiety and a bond market sell-off that has ignited risk-aversion, crypto investors who were betting on a bullish trend have just experienced their most brutal "washout" in over three months. According to Coinglass data, a total of $607 million in leveraged long positions in the cryptocurrency futures market were liquidated over the past 24 hours. This marks the largest single-day liquidation wave since February 6 of this year, when Bitcoin plunged to the $60,000 mark, wiping out $1.84 billion in long positions. In contrast, short liquidations during the same period totaled only $65 million, indicating that market bets on a rebound were significantly over-concentrated. In this wave of leveraged liquidations, ETH became the hardest-hit area, with $244 million in long positions liquidated in a single day. BTC followed closely with $160 million in liquidations. These two major assets alone accounted for the vast majority of the total network liquidations, effectively flushing leveraged bulls out of the market. As of press time, ETH is trading at $2,117, down 10% for the week, while BTC has fallen to $76,940, a weekly decline of nearly 5%. Surging U.S. Treasury yields dampen the appeal of risk assets. Financial analysts point out that the cause of this risk-aversion tsunami is primarily linked to higher-than-expected U.S. inflation data released last week, which sent U.S. Treasury yields soaring. Furthermore, government bond yields in other major global economies have also risen in tandem, suppressing global risk appetite and weakening the appeal of risk assets like BTC. Ironically, this macroeconomic-induced market pain coincides with a long-awaited regulatory tailwind for the crypto industry. Just last Thursday, the "Lummis-Gillibrand Responsible Financial Innovation Act" (often referred to as the CLARITY Act), which aims to establish a regulatory framework for the U.S. cryptocurrency market, was passed by the Senate Banking Committee and is now one step away from a full Senate vote. This event serves as a reminder to the market: when macroeconomic headwinds strike, even tailwinds specific to the crypto industry struggle to hold their ground. While regulatory progress is an important catalyst, when rising bond yields and mounting inflation concerns dampen risk appetite across all asset classes, even leveraged bulls find it difficult to escape unscathed.

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