$83.56M ETH Position Just Wiped Out as Crypto Liquidations Exceed $1 Billion Overnight

A Trader’s Nightmare Unfolds on August 14

The crypto markets delivered a brutal blow on August 14, with liquidations just wiped out across major positions in a single 24-hour window. According to on-chain data from Lookonchain, the notorious whale trader Aguila Trader faced a catastrophic loss when 18,323 ETH ($83.56 million) was liquidated in one fell swoop. The incident pushed his cumulative losses beyond $37 million, leaving him with a mere $330K remaining in his trading account—a dramatic fall from previous highs.

“In one swift liquidation, 18,323 ETH vanished from his positions, a staggering $83.56 million gone in a blink,” noted Eyeonchain on X. This latest blow follows an earlier $200 million loss suffered just a week prior when Aguila attempted to short ETH using 15x leverage at a liquidation price of $4,383.

The Broader Market Collapse: $1 Billion in Forced Exits

However, Aguila Trader’s misfortune was merely one chapter in a much larger story. The August 14 market downturn triggered cascading liquidations totaling over $1 billion across the entire market within 24 hours. Data from Coinglass revealed that long positions accounted for the overwhelming majority—$872 million—with short liquidations comprising the remainder.

Ethereum emerged as the hardest-hit asset, accumulating $272.29 million in long liquidations and $74.17 million in shorts. Bitcoin followed closely with $164.64 million in long liquidations and $13.16 million in short liquidations. For both BTC and ETH, long liquidations dwarfed short exits, signaling that traders had heavily bet on continued upward momentum following the cryptocurrency market’s climb toward a $4.3 trillion market capitalization.

What Triggered the August 14 Selloff?

The catalyst for this market-wide correction arrived on August 14 in the form of the July 2025 U.S. Producer Price Index (PPI) report, released after market hours. The data painted an unexpectedly concerning picture: wholesale prices climbed 0.9% for the month and 3.3% year-over-year—marking the largest monthly jump in three years.

The PPI surge raised alarm bells about tariff pass-through dynamics. As businesses absorbed initial costs from the Trump administration’s tariff policies, they began raising consumer prices to protect profit margins. This reignited long-dormant inflation concerns and sparked renewed speculation that the Federal Reserve might delay or limit future interest rate cuts. For a market that had benefited from rate-cut optimism, the shift in monetary policy expectations proved sufficient to reverse the prevailing bullish narrative overnight.

The result: traders holding leveraged long positions found themselves caught on the wrong side of the move, their positions just wiped out as stop-losses cascaded through order books across major exchanges.