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Crypto liquidations are ‘lot more’ than reported; Bybit CEO estimates up to $10B wipeout

The latest cryptocurrency market sell-off has resulted in significantly higher liquidations than initially reported, with Bybit CEO Ben Zhou estimating the total wipeout to be between $8 billion and $10 billion. This starkly contrasts with the widely cited $2 billion liquidation, which Zhou suggests is a conservative estimate due to API limitations across multiple exchanges . Real liquidations could be four-fold than reported The downturn, spurred by U.S. President Donald Trump’s latest tariff announcement , triggered widespread fears of a prolonged global trade war, sending financial markets into turmoil and prompting investors to offload risk assets, including cryptocurrencies. Early reports from CoinGlass showed that total liquidations across all assets stood at roughly $2.4 billion, with Ethereum ( ETH ) taking the hardest hit , leading the liquidation spree with $617.35 million, followed by Bitcoin ( BTC ) at $441.8 million. However, Zhou highlights that these figures significantly underrepresent real liquidation volumes due to exchange-level API restrictions. He estimates that actual liquidations across the crypto market stand ‘at least around $8 to 10 billion,’ far exceeding initial reports. According to Zhou, Bybit alone recorded $2.1 billion in 24-hour liquidations, yet CoinGlass only reported $333 million due to technical limitations on how much data feeds are pushed out per second. I am afraid that today real total liquidation is a lot more than $2B, by my estimation it should be at least around $8-10b. FYI, Bybit 24hr liquidation alone was $2.1B, As you can see in below screenshot, Bybit 24hr liquidations recorded on Coinglass was around $333m, however,… https://t.co/4WLkPxTYF4 pic.twitter.com/woTOHQvNkt — Ben Zhou (@benbybit) February 3, 2025 This discrepancy, according to him, exists across all major crypto exchanges, meaning the reported $2 billion liquidation is likely just a fraction of the actual liquidation data. The Bigger picture: How severe is the crypto sell-off? While reported figures suggest a $2 billion liquidation, Zhou’s comments imply that the real market damage may be four times larger. According to crypto analyst CrypNuevo , if Zhou’s estimate of $8 billion to $10 billion in liquidations holds, the recent wipeout would surpass the combined liquidations from the COVID-19 market crash, the Terra ( LUNA ) collapse, and the FTX implosion. “To see this with perspective… that would literally be more than COVID, Luna and FTX liquidations combined together, in just 24 hours.” – CrypNuevo With liquidity concerns rising and volatility spiking, traders remain on edge, questioning whether the market can stabilize or if another wave of liquidations is on the horizon. Featured image via Shutterstock The post Crypto liquidations are ‘lot more’ than reported; Bybit CEO estimates up to $10B wipeout appeared first on Finbold . CoinOtag

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BINANCE COIN PRICE ANALYSIS & PREDICTION (February 3) – BNB Rejects $500 After a Huge Collapse, Recovers But Down 15%

Joining the latest dump, BNB also lost over 20% of its value today and tested a key price level with a sharp rejection. It has recovered well from its current low in the past hours but still looks highly bearish on the day. Despite losing steam two months back, BNB remained in a bullish zone and stayed well above the $600 level. Unfortunately, things got out of control in the last 72 hours due to high supply and the asset collapsed. After the $500 level contained the pressure, it held as support and the price bounced back with a long-wicked rejection. This indicates a strong bullish interception but the asset remains very weak on a daily scale. That bounce has brought a little relief in the past few hours and the price is now floating well above $570. Currently, the bulls are trying to retake the immediate lost level. If they succeed, we may see a fresh buy. The key breakpoint to consider for such an increase is $800. Meanwhile, it is important to note that the bears are still in charge. If they mount pressure again, the price may roll back to the current holding support. A break below it may cause a bigger loss in the market. Notwithstanding, there’s still hope for a major recovery as the bullish trajectory remains intact on the long-term scale. It may invalidate if the price drops below the 2024 low in the next selling phase. For now, BNB is under the bears’ radar from a short-term perspective. BNB Key Level To Watch Source: Tradingview The immediate barrier for recovery is $593, followed by $618.7. Higher resistance levels to watch are $660 and $700 for a bigger recovery. For further bearish move, BNB will have to retake $544, $525 and most importantly the daily $500 low. A drop off this low should trigger a bigger loss. Key Resistance Levels: $593, $618.7, $660 Key Support Levels: $544, $525, $500 Spot Price: $575 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: ximagination/ 123RF // Image Effects by Colorcinch CoinOtag