Liquidation Overview: Longs Take the Brunt
According to Coinglass data, the total crypto market liquidations hit $129 million in the past 24 hours. of which long liquidations accounted for $92.5986 million, while short liquidations totaled $35.9452 million. Longs bore 71.8% of the total liquidation volume, suggesting that the recent price decline was predominantly driven by the forced unwinding of long leveraged positions. The total number of liquidated traders reached 60,302, with an average liquidation size of approximately $2,140 per trader.
Breakdown by Major Assets: Bitcoin and ETH Similar in Liquidation Amount
For Bitcoin, long liquidations totaled $26.7533 million versus short liquidations of $5.5311 million, meaning longs comprised 82.9% of BTC liquidations. Ethereum long liquidations reached $26.863 million, with shorts at $6.432 million (80.7% long share). The near-identical liquidation figures for BTC and ETH indicate widespread market weakness rather than an asset-specific event.
Largest Single Liquidation and Exchange Distribution
The largest single liquidation order occurred on Bybit’s BTCUSDT perpetual contract, valued at $2.0826 million. Major derivatives platforms including Bybit, Binance, and OKX likely accounted for the majority of the liquidation volume. Such concentrated deleveraging by long traders may trigger cascading liquidations, and market participants should watch for signs of long-position rebuilding in the coming sessions.