ChainCatcher reported, citing Coinglass data, that liquidations across the crypto market reached $401 million in the past 24 hours. Long positions accounted for $275 million of that total, while short positions made up $126 million. In leveraged trading, a liquidation occurs when a position is automatically closed after price moves beyond the margin threshold, and this data points to a period of sharp price swings for both sides of the market.
By asset, Bitcoin long liquidations totaled $90.05 million, while Bitcoin short liquidations reached $41.648 million. Ethereum long liquidations came in at $73.7669 million, and Ethereum short liquidations were $33.1289 million. Over the same 24-hour period, 97,472 people were liquidated worldwide. The largest single liquidation order took place on Binance - BTCUSDT and was valued at $4.9661 million.