According to Coinglass data, the total cryptocurrency liquidations across all centralized exchanges reached $115 million in the past 24 hours (as of 02:01 UTC on June 28, 2026). Long liquidations accounted for $57.31 million, while short liquidations totaled $57.27 million — an almost perfect split between bulls and bears. This balance suggests that the market experienced intense two-way volatility, forcing both long and short positions into forced closures.
Bitcoin and Ethereum Liquidation Details
Bitcoin contract liquidations reached $26.21 million, comprising $10.21 million in long positions and $15.997 million in short positions. Ethereum contract liquidations were even higher, totaling $30.88 million, with $17.37 million from longs and $13.51 million from shorts. Together, BTC and ETH represent 49% of all liquidations, underscoring their dominant role in the derivatives market. The higher absolute liquidation value of Ethereum relative to Bitcoin indicates that ETH traders may have employed higher leverage or that ETH price movements were sharper during the period.
Liquidated Traders and Largest Single Liquidation
A total of 55,741 traders were liquidated over the 24-hour window, with an average loss of approximately $2,063 per trader. The largest single liquidation order occurred on Binance’s ETHUSDT perpetual contract, valued at $1.8876 million. Such a large single event can amplify short-term price swings, as the forced selling of a sizeable position often triggers cascading liquidations of other over-leveraged positions. The concentration of large liquidations on a single exchange also raises questions about liquidity distribution and risk management practices among different platforms.
Market Context and Risk Implications
The liquidation wave unfolded amid rapid price oscillations of both Bitcoin and Ethereum within narrow trading ranges. The simultaneous liquidation of both long and short positions — often referred to as “long-short double liquidation” — is a hallmark of volatile, indecisive markets where direction suddenly reverses. Market participants should note that the current leverage cycle remains elevated, with many exchanges offering 100x leverage on perpetual contracts. Traders are advised to reduce position sizes, tighten stop-losses, or consider hedging strategies to mitigate liquidation risk. The data from Coinglass serves as a critical reminder that even seemingly range-bound markets can produce violent moves capable of wiping out leveraged accounts in minutes.
Data source: Coinglass, ChainCatcher