Cryptocurrency liquidations surpass $1,1 billion after surge in Ethereum, Bitcoin and Solana

• Cryptocurrency liquidations surpass $1,1 billion
• Ethereum Leads Liquidations With Jump After Pectra Upgrade
• Bitcoin and Solana reinforce the upward movement in the market

In the last 24 hours, the cryptocurrency derivatives market witnessed liquidations that surpassed the $1,12 billion mark as the prices of assets such as Bitcoin, Ethereum, and Solana saw strong gains. The majority of these liquidations were short positions, totaling around $777 million, while long positions accounted for approximately $350 million. Bitcoin is currently trading at around $102.900, while Ethereum is trading at around $2.400.

Among the most impacted assets, Ethereum led with US$439 million in liquidations. The price of the second largest cryptocurrency on the market soared almost 25% in the last week, trading at US$2.303 this Friday (9), after reaching a high of US$2.448 — a level not seen in the last two months. This movement coincides with the launch of the Pectra update, which reinforced investor interest in the network.

Bitcoin, which surpassed $100 on Thursday for the first time since February, was also responsible for a significant portion of the liquidations. The cryptocurrency reached a high of $103.890 on Friday, with a total of $307 million in associated liquidations during the period. BTC's bullish performance directly contributed to putting pressure on leveraged positions that were betting on the asset's decline.

Solana followed suit with a 12% jump over the week, ranking third in terms of liquidations on the day, with over $40 million. Dogecoin also stood out with a rise of over 11% over the past seven days, generating liquidations of over $19 million.

According to CoinGlass, the largest single liquidation was recorded by a trader who bet against Bitcoin and lost a position equivalent to US$ 11,97 million, reflecting the direct impact of the dominant buying force at this point in the market.