According to data from CoinGlass, a crypto derivatives analytics platform, total liquidations across all centralized exchanges reached $1.105 billion in the past 24 hours. A total of 196,868 traders were forcibly closed, marking a significant liquidation event.
Liquidation occurs when a trader's position reaches its mandatory close-out price, and the exchange automatically settles it to prevent further losses. In this wave, long positions bore the brunt of the damage: long liquidations amounted to $891 million, while short liquidations stood at $215 million. The ratio of long to short liquidations was approximately 4.14 to 1, indicating a sharp adverse move for bullish bets.
The largest single liquidation order was recorded on the HTX exchange for the BTC-USDT pair, totaling $59.67 million. Based on the total amount and number of affected traders, the average loss per liquidated trader comes to roughly $5,612. Such large-scale liquidations typically occur during periods of extreme market volatility, underscoring the high-risk nature of leveraged crypto trading.