According to Coinglass data, the cryptocurrency market experienced a massive wave of liquidations over the past 24 hours, totaling $1.024 billion. Long positions suffered the heaviest losses, with $907 million wiped out, while shorts saw just $116 million in liquidations—a stark ratio reflecting a sharp downward price move that triggered cascading margin calls on leveraged bulls.
Breakdown by Major Coins
Bitcoin (BTC) led the rout with $618 million in liquidations, of which $594 million were longs and only $23.22 million were shorts. Ethereum (ETH) recorded $143 million in total liquidations, comprising $122 million in long positions and $20.68 million in shorts. Solana (SOL) was also hit, with $37.46 million liquidated—dominated by $35.53 million in longs against a mere $1.92 million in shorts.
The event affected 171,282 traders in total. The single largest liquidation order occurred on the Hyperliquid exchange’s BTC-USD pair, worth $27.49 million, indicating a single whale or institutional position that was forcibly closed. The disproportionate destruction of long positions highlights how swiftly a market downturn can erase leveraged bets.