ChainCatcher reported, citing Coinglass data, that total crypto market liquidations reached $340 million over the past 24 hours. Long liquidations amounted to $89.3667 million, while short liquidations totaled $251 million. Based on these figures, short-side liquidations were larger than long-side liquidations during the reported period.
Bitcoin and Ethereum liquidation figures
For Bitcoin positions, long liquidations reached $19.112 million, while short liquidations reached $117 million. For Ethereum positions, long liquidations stood at $17.246 million, while short liquidations totaled $43.7054 million. Both Bitcoin and Ethereum saw liquidations on the long and short sides, with the short side accounting for the larger amount in the figures reported by Coinglass.
Coinglass data also showed that 100,446 traders worldwide were liquidated over the most recent 24-hour period. The largest single liquidation order occurred on Binance in the BTCUSDT pair, with a value of $6.1065 million. In leveraged crypto trading, liquidation refers to the forced closing of a position when margin is insufficient, while long and short positions refer to directional bets on price increases and price declines, respectively.