According to data from CoinGlass, the crypto market saw a massive wave of liquidations over the past 24 hours, totaling $1.024 billion. Long positions accounted for $907 million of that amount, or roughly 88.6% of the total, while short liquidations were just $116 million. This stark imbalance suggests a strong downward price movement that caught bullish traders off guard.
Bitcoin (BTC) dominated the liquidation figures, with $618 million wiped out. Of that, long positions suffered $594 million, compared to only $23.22 million in shorts. Ethereum (ETH) followed with $143 million in liquidations, where longs lost $122 million. Solana (SOL) recorded $37.46 million, with long losses at $35.53 million. In total, 171,282 traders faced forced closures across all exchanges.
The single largest liquidation order was recorded on the Hyperliquid platform, involving a BTC-USD position worth $27.49 million. This stands as the biggest individual wipeout during this turbulent 24-hour period.