Crypto traders betting on a rally lose $563 million in liquidations. Ether and bitcoin suffer the mostEther and bitcoin led liquidations, as their prices dropped on macroeconomic concerns. May 18, 2026, 5:47 a.m. 2 min readMake preferred on Crypto bulls positioned for a price rally have had their worst day in over three months as market leaders bitcoin BTC$76,866.23 and ether (ETH) declined on macro concerns.In the past 24 hours, exchanges have liquidated $563 million in leveraged bullish bets in the futures market, the largest single-day wipeout since Feb. 6, when BTC crashed to nearly $60,000 and erased $1.84 billion in bullish positions, according to data source Coinglass.Liquidations of shorts, or bearish bets, over the same period came in at just $65 million, which tells you how lopsided the positioning had become.Ether, the second-largest token by market value, bore the brunt of the damage, accounting for $244 million of the long liquidations. Bitcoin followed with $160 million. The two tokens, taken together, accounted for the bulk of the market-wide unwind that crowded out bullish leverage from the market.Bullish futures bets worth $563 million have been liquidated in 24 hours. (Coinglass)Exchanges liquidate positions when a trader's bet goes so wrong that their deposited funds (collateral) can no longer cover the loss. When you trade futures, you can take a bullish or bearish bet by putting down a fraction of the total trade value as a deposit. The exchange covers the remaining amount. If the market moves as you expect, your gains are magnified. But if it goes against you, then losses grow equally faster and often become large enough to wipe out the deposit. In that case, the exchange steps in to close/liquidate your position.That's precisely what happened with longs as bitcoin and ether fell, dragging the broader market lower.Bitcoin dropped 5% to $77,400 in the week ended May 17 and has since extended losses to trade just under $77,000, according to CoinDesk data. Ether fell 10% to $2,129, where it traded at press time.These losses are likely linked to hotter-than-expected U.S. inflation data released last week and the resulting rise in Treasury yields. Other advanced economies around the world are also seeing a rise in bond yields, denting the appeal of holding riskier, zero-yielding assets like bitcoin.These macro jitters arrived just as the Clarity Act, the long-awaited legislation that would establish a comprehensive framework for digital assets in the U.S., cleared the Senate Banking Committee on Thursday, moving one step closer to a full Senate vote.The episode is a reminder that macro forces can overwhelm crypto-specific tailwinds. While regulatory progress is a meaningful catalyst, it cannot always insulate leveraged traders from rising bond yields and inflation fears that weigh on risk appetite across all asset classes.More For YouXRP gave back gains after a high-volume selloff erased the latest breakout attempt, though buyers stepped back in near support around $1.38.What to know: XRP slipped back below $1.40 after a failed push toward $1.42, as traders took profits aggressively into the rally.The token remains locked in a months-long symmetrical triangle, with tightening price action heightening the risk of a sharp breakout move.Traders are watching support around $1.38 and resistance near $1.39...Read full story