ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $421 million over the past 24 hours. Long positions accounted for $247 million of that amount, while short positions accounted for $174 million. In derivatives trading, liquidation refers to the forced closing of leveraged positions when margin requirements are no longer met.
By asset, Bitcoin long liquidations totaled $63.086 million, while Bitcoin short liquidations reached $16.7798 million. Ethereum long liquidations stood at $65.6147 million, and Ethereum short liquidations reached $51.9905 million. Bitcoin and Ethereum were the main assets listed in the 24-hour liquidation breakdown.
Coinglass data also showed that 103,973 traders were liquidated globally during the same 24-hour period. The largest single liquidation order occurred on Binance - ETHUSDT, with a value of $9.0893 million. This was the biggest individual liquidation recorded in the reported period.