Liquidation Overview: Heavy Losses for Long Positions
According to CoinAnk data, total crypto liquidations across all exchanges reached $972 million in the past 24 hours. Long positions accounted for $774 million (79.6% of total), while short positions added $198 million (20.4%), resulting in a long-to-short liquidation ratio of nearly 4:1. This indicates that leveraged long traders suffered a major wipeout amid the sharp market downturn.
The $972 million figure ranks among the highest daily liquidation events in the last 30 trading days, second only to the over $1 billion single-day spike in mid-May. The sudden deleveraging has tightened liquidity, increasing margin call risks for both exchanges and market makers.
Coin-Breakdown: Bitcoin and Ethereum Dominate
Bitcoin (BTC) contributed $450 million in liquidations, representing 46.3% of the global total and cementing its position as the primary asset in the liquidation wave. Ethereum (ETH) followed with $254 million, claiming 26.1% of the total. Together, BTC and ETH accounted for over $700 million in liquidations, or 72% of the aggregate figure.
Other major cryptocurrencies such as Solana (SOL) and Dogecoin (DOGE) also experienced notable liquidations, though precise data was not separately disclosed. Historically, concurrent large-scale liquidation events in BTC and ETH signal extreme bearish sentiment, often leading to sustained downward pressure or delayed recovery.
Market Impact and Trading Considerations
The $972 million liquidation creates significant ripple effects in the derivatives market. Forced closures of long positions generate selling pressure that can further depress prices, creating a negative feedback loop. Post-liquidation, the long/short ratio may realign, funding rates could turn negative, and basis spreads between spot and futures may widen.
Traders should remain cautious about waterfall liquidation risks: if Bitcoin breaks below a key support level, additional high-leverage longs may be triggered. It is advisable to reduce leverage, set reasonable stop-losses, and monitor real-time CoinAnk liquidation data to detect shifts in market liquidity.