According to ChainCatcher, Coinglass data shows that total liquidations across the crypto market reached $420 million over the past 24 hours. Long positions accounted for $242 million of the total, while short positions accounted for $178 million. In leveraged trading, liquidation generally refers to the forced closure of a position when margin is insufficient to keep the position open.
Bitcoin and Ethereum Liquidation Breakdown
For Bitcoin, long liquidations totaled $58.5677 million, while short liquidations reached $19.6089 million. For Ethereum, long liquidations stood at $57.4381 million, while short liquidations reached $59.0751 million, slightly higher than Ethereum long liquidations during the same 24-hour period.
Coinglass data also shows that 99,392 traders worldwide were liquidated in the past 24 hours. The largest single liquidation order occurred on Binance - ETHUSDT, with a value of $9.0893 million.