Flash Liquidation Data: $165M Wiped Out in 1 Hour
Coinglass reports that the total cryptocurrency liquidation across all exchanges hit $165 million in the past hour. Short positions bore the brunt at $138 million, representing 83.6% of the total, while long positions saw only $27.22 million liquidated. By coin, Ethereum led with $104 million in liquidations (63% of total), followed by Bitcoin at $50.2 million. The data suggests a sharp price drop triggered stop-losses and margin calls on heavily leveraged short positions.
The ratio of short-to-long liquidations exceeded 5:1, indicating that market makers or large holders likely squeezed leveraged traders on the short side. Traders should monitor funding rates and open interest changes closely. This event underscores the risk of high leverage in volatile conditions. As per source, the flash crash may have been exacerbated by cascading liquidations. Further volatility may persist as residual positions unwind.