ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $331 million over the past 24 hours. Long positions accounted for $177 million of the total, while short positions accounted for $154 million. The figures show that both sides of the leveraged market saw sizable forced liquidations during the same reporting period.
Bitcoin and Ethereum liquidation breakdown
By asset, Bitcoin long positions saw $36.6512 million in liquidations, while Bitcoin short positions saw $69.0029 million in liquidations. For Ethereum, long liquidations totaled $38.8072 million, and short liquidations totaled $34.3987 million. Bitcoin’s short liquidations were higher than its long liquidations, while Ethereum’s long and short liquidation totals were closer to each other.
Coinglass data also showed that 102,404 traders globally were liquidated during the latest 24-hour period. The largest single liquidation order took place on Binance’s BTCUSDT trading pair, with a value of $2.0983 million. In leveraged derivatives trading, liquidation refers to the forced closing of a position when the account’s margin no longer meets the required level for maintaining that position.