Liquidation Overview: Longs Dominating Losses
According to the latest data from Coinglass, total liquidations across the crypto market over the past 24 hours reached $315 million. Among these, long positions accounted for $218 million in liquidations, while short positions saw $97.38 million liquidated. Longs thus make up nearly 69% of total losses, indicating that leveraged bullish bets are suffering the most amid the current market volatility.
Bitcoin and Ethereum Liquidation Breakdown
Bitcoin long liquidations amounted to $82.19 million, compared to $36.74 million for Bitcoin shorts, giving longs a 69.1% share. Ethereum long liquidations reached $45.27 million versus $18.45 million for shorts, resulting in a 71.1% share for longs. The higher proportion of Ethereum long liquidations suggests that ETH leveraged positions faced even greater pressure during the downturn.
Trader Impact and Largest Single Liquidation
A total of 84,288 traders were liquidated globally in the past 24 hours. The largest single liquidation occurred on Binance’s ETHUSDT contract, valued at $8.57 million. Such large-position liquidations often indicate whale accounts or highly leveraged strategies, and they can trigger cascading liquidations if the market moves further against them.
Market Context and Near-Term Outlook
With over $300 million in total liquidations in a single day, the crypto market remains highly volatile. The cycle of long liquidations, stop-loss triggers, and price declines creates a negative feedback loop. If Bitcoin and Ethereum fail to hold key support levels, further long squeezes are possible. Traders should monitor on-chain leverage data and reduce risk exposure accordingly.