UPDATE: Crypto liquidations hit $547M as oil surge pressures market
CIE News ·
Rising oil prices following tanker attacks contributed to $547 million in crypto liquidations on October 7, 2026, with Ether positions representing $174 million of the total.
Crypto liquidations rose 235% to reach $547 million over the 24-hour period ending October 7, 2026, following heightened market volatility linked to rising oil prices. As previously reported, Bitcoin (BTC) dipped below $84,000 as total liquidations expanded, with CoinDesk reporting that tanker attacks by Iran in the Strait of Hormuz pushed Brent Crude above $101 a barrel alongside gains in Treasury yields and the U.S. dollar.
Ether (ETH) accounted for $174 million of the liquidations recorded during the period, according to CoinDesk. Broader market sectors experienced heavier pullbacks, with the CoinDesk 80 index sliding almost 4%, while decentralized finance tokens fell nearly 6% and the Memecoin Index declined approximately 5%.
Despite the decline, U.S. spot Bitcoin exchange-traded funds recorded $119 million in net inflows on Tuesday, marking inflows in four out of five recent trading sessions.