ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $123 million over the past 24 hours. Long liquidations amounted to $39.6635 million, while short liquidations totaled $83.2107 million. Based on these figures, short liquidations were higher than long liquidations during the reporting period.
Bitcoin and Ethereum Liquidation Breakdown
By asset, Bitcoin long liquidations reached $3.2499 million, while Bitcoin short liquidations stood at $37.8482 million. For Ethereum, long liquidations amounted to $3.1764 million, and short liquidations reached $10.2412 million. These figures show the scale of forced position closures across major crypto contract markets over the past 24 hours.
Coinglass data also showed that 70,864 traders were liquidated globally during the same 24-hour period. The largest single liquidation order occurred on Bitget, on the BTCUSDT_UMCBL contract, with a value of $5.1119 million. In crypto derivatives trading, liquidation generally refers to the forced closing of a leveraged position when the margin in the account is no longer sufficient under exchange rules.