ChainCatcher reported, citing Coinglass data, that total crypto contract liquidations across the network reached $421 million over the past 24 hours. Long-position liquidations accounted for $247 million of the total, while short-position liquidations reached $174 million. The figures show that both long and short leveraged positions were cleared during the latest 24-hour reporting window, with long liquidations exceeding short liquidations.
Bitcoin and Ethereum liquidation breakdown
By asset, Bitcoin long liquidations totaled $63.086 million, while Bitcoin short liquidations stood at $16.7798 million. Ethereum long liquidations reached $65.6147 million, and Ethereum short liquidations came in at $51.9905 million. Based on these figures, Ethereum-related long and short liquidations together exceeded $117 million, while Bitcoin-related liquidations totaled about $79.8658 million.
Coinglass data also shows that 103,973 traders worldwide were liquidated over the same 24-hour period. The largest single liquidation order occurred on Binance - ETHUSDT, with a value of $9.0893 million. In derivatives trading, liquidation generally refers to the forced closing of a position when the margin balance is insufficient to maintain it; such data is commonly used to track leveraged position clearing.