Liquidation Overview: Longs Hit Hardest
Coinglass data reveals that total crypto liquidations across all exchanges in the past 24 hours reached $385 million. Long position liquidations accounted for $280 million (over 72% of total), while short position liquidations stood at $104 million. Approximately 100,267 traders were liquidated, indicating a sharp market move that forced leveraged long positions to close.
Bitcoin and Ethereum Liquidation Details
Breaking down the numbers: Bitcoin longs liquidated $140 million, while Bitcoin shorts saw $32.54 million in liquidations. Ethereum longs lost $48.43 million, compared to $26.19 million in short liquidations. The overwhelming dominance of long liquidations suggests a sudden bearish reversal or a cascade triggered by a large sell-off.
Notable Large Liquidation and Market Impact
The largest single liquidation order occurred on Binance's ETHUSDT perpetual contract, valued at $11.38 million. Such large liquidations can amplify downward price pressure and sometimes trigger stop-loss cascades. The current market sentiment appears bearish, with heightened volatility expected in the near term as leveraged positions continue to unwind.