According to ChainCatcher, citing Coinglass data, total liquidations across the crypto market reached $273 million over the past 24 hours. Long liquidations amounted to $110 million, while short liquidations totaled $163 million. Based on these figures, short liquidations were higher than long liquidations during the period.
Bitcoin and Ethereum liquidation breakdown
By asset, Bitcoin long liquidations reached $15.964 million, while Bitcoin short liquidations stood at $49.8993 million. For Ethereum, long liquidations totaled $31.9445 million, and short liquidations reached $29.5472 million. Liquidations generally occur in leveraged contract trading when margin is no longer sufficient to maintain an open position, resulting in forced closure.
Coinglass data also shows that 99,520 traders were liquidated globally in the most recent 24-hour period. The largest single liquidation order occurred on Binance - ETHUSDT, with a value of $11.8764 million.