Market Overview: $315M Liquidated, Longs Account for 69%
Data from Coinglass shows that total liquidations across the crypto market over the past 24 hours reached $315 million. Long position liquidations totaled $218 million (69% of the total), while short liquidations stood at $97.38 million (31%). The higher volume of long liquidations suggests a downward price move forced many leveraged long positions to close, but shorts also suffered nearly $100 million in losses, indicating a classic 'long-short squeeze' scenario where both directional bets were punished amid sharp price swings.
BTC and ETH Liquidation Breakdown: Heavy Concentration on Major Assets
Bitcoin long liquidations amounted to $82.19 million, with short liquidations at $36.74 million, for a combined $118.93 million — or 37.8% of total liquidations. Ethereum saw $45.27 million in longs and $18.45 million in shorts, totaling $63.71 million (20.2%). Together, Bitcoin and Ethereum accounted for nearly 60% of all liquidation volume, highlighting the concentration of leveraged capital in the two largest cryptocurrencies.
Affected Traders and the Largest Single Order
The data also reveals that 84,288 traders were liquidated globally in the past 24 hours. The largest single liquidation order occurred on Binance's ETHUSDT pair, valued at $8.57 million. This single order accounted for roughly 2.7% of the total liquidation amount, indicating the presence of large, high-leverage positions. Major exchanges such as Binance, OKX, and Bybit processed the bulk of liquidation orders, reflecting sustained high activity in the derivatives market.
Market Impact and Risk Considerations
This wave of liquidations took place amid rapid short-term price fluctuations in Bitcoin and Ethereum. The simultaneous clearing of both long and short positions suggests reduced market depth and increased slippage. Traders are advised to lower leverage multiples or employ stop-loss measures to manage extreme volatility. On-chain analysts warn that if prices break out decisively in either direction, a second wave of forced liquidations could follow, making close monitoring of open interest essential.