ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $163 million over the past 24 hours. Long-position liquidations amounted to $50.9623 million, while short-position liquidations totaled $112 million. In leveraged crypto trading, liquidation refers to the forced closing of a position when margin is insufficient to maintain it.
Bitcoin and Ethereum Liquidation Breakdown
For Bitcoin positions, long liquidations stood at $8.9614 million, while short liquidations reached $31.2779 million. For Ethereum positions, long liquidations totaled $10.884 million, and short liquidations reached $35.8499 million. In both Bitcoin and Ethereum, short liquidations were higher than long liquidations during the reported 24-hour period.
Coinglass data also showed that 66,008 traders were liquidated globally in the latest 24-hour window. The largest single liquidation order occurred on Binance in the BTCUSDT trading pair, with a value of $3.435 million.