Data from Coinglass shows that in the past 24 hours (as of June 28, 2026, UTC), the total crypto futures liquidation amount reached $129 million, with longs bearing the brunt of the pain. Long positions accounted for $92.5986 million in liquidations, while shorts saw $35.9452 million wiped out, a ratio of approximately 2.6:1 in favor of longs, indicating that leveraged bullish positions were heavily squeezed during this market adjustment.
Asset Breakdown and Liquidation Structure
Bitcoin (BTC) longs experienced $26.7533 million in liquidations versus $5.5311 million in short liquidations, a long/short ratio of 4.8:1, underlining the intense pressure on BTC bulls. Ethereum (ETH) saw $26.863 million in long liquidations and $6.432 million in short liquidations, with the largest single liquidation order occurring on a Bybit BTCUSDT perpetual contract worth $2.0826 million. The data suggests that long leveraged positions in both major assets are highly vulnerable to price retracements, with ETH longs slightly more exposed than BTC.
Number of Affected Traders and Largest Single Event
A total of 60,302 traders were liquidated across the entire market within the 24-hour window, with an average liquidation size of approximately $2,138. The largest single liquidation order on Bybit's BTCUSDT perpetual contract, worth $2.0826 million, likely caused by a large whale or multi-strategy fund being forcibly closed, potentially amplifying short-term price volatility.
The current market sentiment remains cautious, with leveraged long positions being unwound as Bitcoin and Ethereum prices edge lower. While short liquidations remain relatively modest, if the selling pressure from long unwinding continues, it could trigger cascading effects. Traders should closely monitor funding rates and open interest changes to gauge shifting risk appetite.