According to ChainCatcher, citing Coinglass data, total liquidations across the crypto market reached $126 million over the past 24 hours. Long-position liquidations stood at $41.2971 million, while short-position liquidations totaled $84.7455 million. A liquidation generally refers to the forced closure of a leveraged position when margin is no longer sufficient to maintain it.
Bitcoin and Ethereum liquidation figures
By asset, Bitcoin long liquidations amounted to $2.3295 million, while Bitcoin short liquidations reached $37.8125 million. For Ethereum, long liquidations totaled $2.8478 million, and short liquidations came in at $10.8856 million. In the reported figures, short liquidations were higher than long liquidations for both Bitcoin and Ethereum.
Coinglass data also showed that 73,173 people were liquidated globally during the latest 24-hour period. The largest single liquidation order occurred on Bitget, on the BTCUSDT_UMCBL trading pair, with a value of $5.1119 million.