Over the past 24 hours, Coinglass data shows total crypto liquidations hit $427 million, with long positions at $299M and shorts at $129M — longs dominating 70%. Liquidations happen when futures margin falls short amid volatile price swings. The amount surpasses recent daily norms, reflecting intense market turmoil.
Bitcoin long liquidations reached $132M (16x the $8.18M shorts), while Ethereum longs saw $61.35M versus $12.25M shorts (5x ratio). The extreme long-side pressure on BTC points to a heavy directional bet unwind, and Ethereum's leverage profile remains high.
A total of 139,648 traders were liquidated, and the largest single order — $6.29M — occurred on Binance's HUSDT pair. The massive number of affected traders highlights the sweeping impact of the volatility. Coinglass data serves as a key gauge for market liquidation risks.