$210M in crypto longs liquidated as BTC, ETH prices plunge

Over $210 million in leveraged long positions were liquidated in the cryptocurrency market as Bitcoin (BTC) and Ethereum (ETH) experienced significant price declines. The liquidation occurred as BTC prices dropped towards $81,000 and ETH approached $2,300, suggesting a sharp deleveraging in the market. This event indicates a possible shift in market sentiment as participants react to the downturn in major cryptocurrencies. In the context of the Hyperliquid price prediction market, these developments could influence the perception of Hyperliquid’s potential to reach the $100 benchmark by the end of 2026. The current market odds for Hyperliquid reaching $100 have seen a decrease, with the December 31 sub-market now priced at 38.5% YES, down from 44% the previous day.

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