"Liquidation of Positions Worth 3 Trillion Won in 24 Hours… Larger than COVID-19 and FTX"

Son Min

Summary

It was reported that positions worth 3 trillion won were liquidated in the cryptocurrency futures market.
This liquidation is larger than during the COVID-19 and FTX incidents.
It is assessed that President Trump's tariff policies influenced the liquidation.

In the cryptocurrency perpetual futures market, it was revealed that positions worth over $2 billion (approximately 2.9318 trillion won) were liquidated within 24 hours.

On the 2nd (local time), Cointelegraph reported via X that "positions worth over $2 billion were forcibly liquidated in the futures market over the past 24 hours," stating, "This is larger than the COVID-19 and FTX incidents."

According to Cointelegraph data, the forcibly liquidated futures positions amounted to $2.18 billion (approximately 3.1939 trillion won). Among these, long positions accounted for $1.87 billion (approximately 2.7405 trillion won), and short positions accounted for $308.68 million (approximately 452.4 billion won).

This is attributed to the impact of U.S. President Donald Trump's tariff policies. Previously, Cointelegraph mentioned, "After Trump announced trade tariffs on China, Mexico, and Canada, $341 billion disappeared from the cryptocurrency market."