ChainCatcher, citing data from Coinglass, reported that total liquidations across the crypto market reached $338 million over the past 24 hours. Of that amount, long positions accounted for $138 million, while short positions accounted for $200 million. In derivatives trading, liquidation generally 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 totaled $20.3004 million, while Bitcoin short liquidations reached $68.0779 million. Ethereum long liquidations stood at $36.2746 million, and Ethereum short liquidations totaled $35.3031 million. The figures show that, during the 24-hour period covered by the data, Bitcoin short liquidations were notably higher than Bitcoin long liquidations, while Ethereum long and short liquidation amounts were close to each other.
Coinglass data also showed that 114,899 traders worldwide were liquidated over the same 24-hour period. The largest single liquidation order occurred on Binance in the ETHUSDT trading pair, with a value of $11.8764 million. This was the largest individual forced liquidation disclosed in the reported dataset.