ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $604 million over the past 24 hours. Long-position liquidations totaled $79.5573 million, while short-position liquidations reached $525 million. In derivatives trading, liquidation refers to the forced closing of a position when the margin supporting that position is no longer sufficient.
Bitcoin and Ethereum Liquidation Breakdown
By asset, Bitcoin long liquidations stood at $15.4835 million, while Bitcoin short liquidations reached $198 million. For Ethereum, long liquidations totaled $20.2206 million, and short liquidations reached $179 million. Based on the figures cited, short-position liquidations were higher than long-position liquidations over the same 24-hour period.
Coinglass data also showed that 121,825 traders were liquidated globally during the past 24 hours. The largest single liquidation order occurred on Binance’s ETHUSDT trading pair, with a value of $12.029 million.