Bitcoin slides as 24-hour crypto liquidations hit $865M.

• Bitcoin slips near $93,318 as 24-hour liquidations reach $865M.

• The Paradex glitch prints BTC at $0, triggers perp liquidations, then rolls back.

• Trade tensions drive volatility, while ETF flows support broader BTC demand.

Bitcoin traded near $93,318 after a sharp pullback that pushed total crypto liquidations to $865 million. The move followed renewed trade war headlines that pressured risk assets and lifted volatility. Meanwhile, a separate exchange issue sent Bitcoin to $0 on Paradex, causing liquidations on that venue.

The broader market held a weak tone as traders reduced leverage across major pairs. As a result, Bitcoin erased much of its recent weekly advance and turned sentiment defensive. Even so, spot pricing stabilized around the low $93,000s after the initial drop.

Bitcoin slides as 24-hour crypto liquidations hit $865M.

Bitcoin fell from above $95,000 to the low $92,000s during a volatile stretch. The decline pushed leveraged positions into forced closures across centralized venues. Consequently, liquidation totals climbed to about $865 million over 24 hours.

https://x.com/Yuriy_Biko/status/2013557853282263521?s=20 

Bitcoin accounted for about $234 million of those liquidations, based on exchange tracking dashboards. The move also dragged majors and high-beta tokens lower in tandem. However, the price later steadied near $92,000 to $93,000 as selling cooled.

Macro headlines drove the day’s pressure as trade tensions resurfaced in U.S.-Europe relations. Therefore, traders treated Bitcoin like a high-liquidity risk proxy during the shock. In addition, options markets reflected stronger demand for downside protection.

Paradex prints Bitcoin at $0 after database migration issue

Paradex users reported Bitcoin pricing at $0 during overnight trading on the perps platform. The incident followed a database migration problem that affected the chain, explorer, bridge, and API. Shortly after, users flagged liquidations as orders executed against the faulty price.

Paradex identified the issue and initiated recovery procedures to restore a correct chain state. The exchange rolled back the Paradex Chain to a prior block before the maintenance window. Then it force-canceled remaining open orders to reduce further disorder.

Paradex later reported that services returned to normal operations after the rollback. The platform also stated that user funds remained safe during the incident. Even so, the glitch added stress to an already volatile session for crypto markets.

Bitcoin perps activity stays large as volatility remains elevated

Perps activity on Paradex remained significant, with DeFi trackers showing about $641 million in open interest. The protocol also processed about $37 billion in volume over the past 30 days. As a result, any major pricing disruption can amplify liquidations quickly.

Bitcoin’s technical backdrop stayed mixed after the reversal and quick stabilization. Market participants still pointed to steady spot ETF demand as a structural tailwind. However, short-term flows continued to dominate price swings during the session.

Trade risks and policy uncertainty kept volatility high across digital assets and broader markets. Therefore, leveraged positioning carried higher liquidation risk during sudden headline moves. For now, Bitcoin holds a narrow range, yet the market remains sensitive to macro shocks.