According to ChainCatcher, Coinglass data shows that total crypto contract liquidations across the market reached $126 million over the past 24 hours. Long-position liquidations amounted to $41.2971 million, while short-position liquidations totaled $84.7455 million. By direction, short liquidations were larger than long liquidations during this reporting period.
For Bitcoin-related positions, long liquidations stood at $2.3295 million, while short liquidations reached $37.8125 million. For Ethereum-related positions, long liquidations totaled $2.8478 million, and short liquidations reached $10.8856 million. Liquidation generally occurs in leveraged contract trading when an account no longer has sufficient margin to maintain an open position, leading the trading platform to forcibly close that position.
Coinglass data also shows that 73,173 traders worldwide were liquidated over the most recent 24-hour period. The largest single liquidation order occurred on Bitget, involving the BTCUSDT_UMCBL trading pair, with a value of $5.1119 million. The figures reflect forced liquidation activity in the crypto derivatives market over the past 24 hours.