Total Liquidations Surpass $385M, Longs Dominate Losses
According to Coinglass data, the cryptocurrency market experienced significant volatility over the past 24 hours, with total liquidations reaching $385 million. Long positions accounted for $280 million (72.7%), while short positions contributed $104 million (27.3%). This imbalance underscores the severe impact on leveraged long positions during the recent price pullback, exposing elevated risk among over-leveraged traders.
Bitcoin and Ethereum Liquidation Details: Long vs. Short
Breaking down by asset, Bitcoin long liquidations totaled $140 million, far exceeding the $32.54 million in short liquidations, a ratio of approximately 4.3:1. For Ethereum, long liquidations stood at $48.43 million compared to $26.19 million in shorts, a ratio of 1.85:1. Both cryptocurrencies show a clear pattern of concentrated long liquidation events during the downward price move.
Over 100,000 Traders Liquidated, Largest Order on Binance ETHUSDT
More than 100,267 traders were liquidated globally in the past 24 hours. The single largest liquidation order occurred on Binance’s ETHUSDT perpetual contract, valued at $11.38 million. This highlights the fragility of high-leverage environments, particularly when liquidity thins and large positions can trigger cascading liquidations.
In terms of market sentiment, the liquidation wave likely correlates with sharp price declines in Bitcoin and Ethereum. Traders should closely monitor subsequent position changes and funding rate fluctuations, and manage leverage prudently.