ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $218 million over the past 24 hours. Long-position liquidations accounted for $119 million, while short-position liquidations totaled $98.9266 million. In derivatives trading, liquidation refers to the forced closing of a leveraged position when margin requirements are no longer met.
Bitcoin and Ethereum Liquidation Breakdown
For Bitcoin, long-position liquidations reached $19.2225 million, while short-position liquidations stood at $28.8128 million. For Ethereum, long-position liquidations totaled $18.4138 million, compared with $13.4272 million in short-position liquidations. Based on the disclosed figures, Bitcoin short liquidations were higher than Bitcoin long liquidations, while Ethereum recorded a larger amount of long liquidations than short liquidations.
Coinglass data also showed that 98,460 traders worldwide were liquidated during the same 24-hour period. The largest single liquidation order occurred on Binance - BTCUSDT, with a value of $1.9305 million. This was the largest individual forced-liquidation order listed in the 24-hour dataset referenced by ChainCatcher.