The crypto market experienced a massive wave of liquidations over the past 24 hours. According to CoinGlass data, total liquidations reached $1.024 billion, with long positions accounting for $907 million and shorts $116 million. The overwhelming dominance of long liquidations at 88.6% reflects heavy selling pressure that forced many leveraged long positions to be closed.
Breaking down by asset, Bitcoin led the carnage with $618 million in liquidations—$594 million in longs (96.1%) and $23.22 million in shorts. Ethereum saw $143 million liquidated, including $122 million in longs (85.3%) and $20.68 million in shorts. Solana recorded $37.4569 million in liquidations, with $35.53 million from long positions (94.9%) and $1.92 million from shorts.
Overall, 171,282 traders were liquidated in the past 24 hours. The largest single liquidation order occurred on the Hyperliquid exchange’s BTC/USD pair, worth a staggering $27.4927 million.