News 
May 23, 2025 
3 min. 
$560 million vanishes in the latest crypto market shake-up, as Bitcoin (BTC) pulls back sharply from its recent all-time high of $111,000. This sudden drop triggered a massive wave of liquidations across major exchanges. On Friday, May 23, more than 160,900 traders were caught off guard, with total liquidated positions exceeding $563 million, according to data from Coinglass.
The majority of these losses came from long positions, accounting for approximately $418.6 million, while short positions contributed $144.3 million. The largest individual liquidation involved a BTC/USDT futures trade on OKX, valued at $9.53 million.
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Bitcoin traders suffered the biggest blow, losing $153 million, followed by Ethereum (ETH) traders, who saw $144.2 million in liquidations. The high percentage of long liquidations suggests many traders were banking on further price increases—a risky bet amid escalating market volatility.
As BTC continues to retreat from its historic surge, analysts are closely monitoring market sentiment and open interest to assess whether deeper corrections lie ahead.
Bitcoin and Ethereum Dip Amid Rising U.S.-EU Trade Tensions
Over the past 24 hours, leading cryptocurrencies experienced renewed volatility as geopolitical pressure mounted. Bitcoin (BTC) dropped from its recent all-time high of $111,970 to as low as $107,000, before recovering to $109,231. Meanwhile, Ethereum (ETH) slipped from a daily high of $2,731 to $2,508, later rebounding modestly to $2,574.
The downturn followed comments by former U.S. President Donald Trump, who threatened punitive tariffs on the European Union and tech giant Apple, reigniting fears of a renewed trade war. Escalating trade tensions often weigh heavily on risk-on assets, and cryptocurrencies, particularly Bitcoin and Ethereum, are no exception. In uncertain economic climates, traders tend to shift away from speculative positions.
Despite the macroeconomic headwinds, Bitcoin has continued to show signs of strength. Notably, it surpassed its previous peak set in November during Trump’s inauguration period. Ethereum, on the other hand, remains well below its historical high near $4,000, which reflects a more cautious market stance.
Bitcoin’s relative resilience can be attributed to its growing role as “digital gold.” With rising inflation concerns and market instability, both retail and institutional investors increasingly view Bitcoin as a hedge against macroeconomic uncertainty, a role that has traditionally been reserved for gold and other safe-haven assets.
