Overview of the 24-Hour Liquidation Data
According to Coinglass, total liquidations across the crypto market reached $174 million in the past 24 hours. Of that total, long positions accounted for $71.1399 million, while short positions made up $103 million. The distribution suggests that short traders absorbed the larger share of forced closures during the period. In practical market terms, this points to a trading window in which price action moved more aggressively against bearish positioning than against bullish exposure.
The gap between long and short liquidations is notable because it reflects an imbalance in directional pressure rather than a uniform deleveraging event. When short liquidations exceed long liquidations by this margin, it typically means that a meaningful portion of leveraged traders was positioned for downside continuation but was instead forced out as prices moved higher or rebounded sharply.
Bitcoin and Ethereum Liquidation Breakdown
Among major assets, Bitcoin recorded $9.7551 million in long liquidations and $22.1575 million in short liquidations. Ethereum posted $13.749 million in long liquidations and $34.7389 million in short liquidations. In both cases, short-side liquidations were significantly higher than long-side liquidations, reinforcing the broader market pattern seen in the aggregate data.
Ethereum’s short liquidation figure stood out in particular, exceeding its long liquidations by a wide margin and also surpassing Bitcoin’s short liquidation total. This indicates that ETH-related leveraged positions were especially vulnerable during the reporting window. BTC and ETH remain the core venues for concentrated derivative activity, so liquidation figures in these two markets often shape the broader perception of risk across perpetual futures trading.
Trader Count and Largest Single Liquidation
Over the same 24-hour period, a total of 65,864 traders were liquidated globally. The largest single liquidation order took place on Binance - BTCUSDT, with a value of $2.7283 million. This shows that large leveraged positions remain concentrated in highly liquid benchmark contracts, especially BTCUSDT pairs on major exchanges.
The appearance of the largest liquidation on Binance’s BTCUSDT market is consistent with the contract’s role as one of the most actively traded derivatives instruments in crypto. Large positions in such markets can be unwound quickly when volatility spikes, particularly when traders are operating with elevated leverage. Source: ChainCatcher.