ChainCatcher reported, citing Coinglass data, that total crypto liquidations across the network reached $421 million over the past 24 hours. Long-position liquidations accounted for $186 million, while short-position liquidations reached $235 million. Based on the reported figures, short liquidations were higher than long liquidations during the same period.
Bitcoin and Ethereum Liquidation Breakdown
By asset, Bitcoin long liquidations totaled $47.4929 million, while Bitcoin short liquidations stood at $45.9053 million. For Ethereum, long liquidations reached $50.4062 million and short liquidations reached $74.1645 million. Among the Bitcoin and Ethereum figures listed in the data, Ethereum short liquidations represented the largest amount.
The data also showed that 100,914 people worldwide were liquidated in the past 24 hours. The largest single liquidation order occurred on Binance - ETHUSDT, with a value of $9.0893 million. A liquidation generally refers to the forced closing of a leveraged position when margin is insufficient, and it is commonly used as a data point for observing changes in leveraged trading risk.