ChainCatcher reported, citing data from Coinglass, that total liquidations across the crypto market reached $126 million over the past 24 hours. Long-position liquidations accounted for $41.2971 million, while short-position liquidations totaled $84.7455 million. Based on these figures, short liquidations were larger than long liquidations during the measured period.
By asset, Bitcoin-related positions saw $2.3295 million in long liquidations and $37.8125 million in short liquidations. Ethereum-related positions recorded $2.8478 million in long liquidations and $10.8856 million in short liquidations. The figures refer to Coinglass data covering the most recent 24-hour liquidation window.
Coinglass also showed that 73,173 traders worldwide were liquidated during the same 24-hour period. The largest single liquidation order took place on Bitget in the BTCUSDT_UMCBL market, with a value of $5.1119 million. In crypto derivatives trading, liquidation generally refers to a forced closure of a position when margin is insufficient to maintain it.