Liquidation of cryptocurrency rising bets led to a sharp drop in the morning... Total liquidation amount: approximately KRW 1.3761 trillion

Coinglass "Long Betting Liquidation, Recorded 1.2758 Trillion Won"

Data was released that the main reason behind the sharp rise in the cryptocurrency market, including , on the morning of the 25th was the large-scale liquidation of long (bullish) bets in the cryptocurrency futures market.

According to data from the on-chain analysis platform , the total liquidation in the cryptocurrency futures market over the past day was about $961.65 million (about 1.3761 trillion won).

The majority of the large-scale liquidation was long betting liquidation, with the total long betting liquidation in the cryptocurrency futures market on the 25th recording about $891.52 million (about 1.2758 trillion won). As the cryptocurrency market continued to decline, many futures investors bet on a rebound, and these bets led to a further decline in the market.

In particular, the most severe bleeding bet was the long bet. According to 's data, the long betting liquidation on the 25th recorded $277 million (about 396.4 billion won).

The macroeconomic factor that led to the cryptocurrency decline is said to be the declaration of a trade war by U.S. President Trump. President Trump announced in a press conference with French President Macron on the 24th that he would proceed with the 25% additional tariffs on Canada and Mexico as planned.

As Trump's trade war became a reality, fears of inflation swept the world, and "risk assets" including the U.S. stock market plummeted on the 24th.

Reporter Kwon Seung-won ksw@blockstreet.co.kr