ChainCatcher reported, citing Coinglass data, that total liquidations across the crypto market reached $324 million over the past 24 hours. Of that amount, long liquidations accounted for $189 million, while short liquidations totaled $135 million. Liquidation in futures trading generally refers to positions being forcibly closed when margin requirements are no longer met.
For Bitcoin-related positions, long liquidations reached $38.8298 million, while short liquidations stood at $58.0473 million. For Ethereum-related positions, long liquidations totaled $40.9653 million, and short liquidations reached $27.7905 million. The figures show that both Bitcoin and Ethereum contracts saw liquidations on the long and short sides during the 24-hour period.
Coinglass data also showed that 110,156 traders worldwide were liquidated during the same period. The largest single liquidation order occurred on Binance in the ETHUSDC trading pair, with a value of $2.9509 million. This was the largest individual liquidation order disclosed in the reported 24-hour dataset.