Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Total Network Liquidation Reaches $812 Million Amid Short Positions

Total Network Liquidation Reaches $812 Million Amid Short Positions

Coinlineup2025/08/02 03:05
By:Coinlineup
Key Points:
  • Main event, leadership changes, market impact, financial shifts, or expert insights.
  • $812M network liquidations
  • Celsius’s legal proceedings involving Tether
Total Network Liquidation Reaches $812 Million Amid Short Positions

The recent $812 million liquidation in cryptocurrency markets was primarily driven by short positions. Key factors include the Celsius-Tether lawsuit over mismanaged Bitcoin collateral, and broader macroeconomic influences impacting leverage in BTC and ETH positions.

In the past 24 hours, the cryptocurrency market has experienced $812 million in network liquidations, primarily due to short positions. This event is closely tied to legal proceedings and market dynamics.

The liquidation event highlights the volatility in crypto markets amid Celsius’s legal suit against Tether. The $812 million figure underlines significant market instability and highlights judicial scrutiny effects.

In the past day, significant liquidations have impacted BTC and ETH, with Binance experiencing a notable $5.43 million liquidation. These liquidations relate to the Celsius-Tether lawsuit claiming improper liquidation of assets.

Celsius, undergoing judicial processes, alleged Tether liquidated 39,500 BTC outside agreed procedures. This had substantial implications, with wide-reaching effects on the cryptocurrency market involving key players like Tether.

“Celsius alleges that Tether (USDT) executed a ‘fire sale’ of over 39,500 Bitcoin (BTC) in June 2022, applying the proceeds against Celsius’s $812 million debt without following agreed-upon procedures.” — Judge Martin Glenn, U.S. Bankruptcy Court

Analysts note the recent volatility stems from broader economic pressures, such as U.S. rate changes affecting leverage positions. The $812 million aligns with Celsius’s legal conflict, impacting crypto movement and lending confidence concerns.

Market observers emphasize potential regulatory pressures linked to the legalities involving large-scale liquidations like Celsius’s and Tether’s. Historical patterns, including 2022’s macro trends, suggest ongoing sensitivity to legal outcomes.

Potential regulatory measures and market reactions may emerge from ongoing legal disputes. Historical data indicates persistent market sensitivity to judicial and financial shifts. Such events could steer future cryptocurrency market dynamics.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!