According to ChainCatcher, citing Coinglass data, the cryptocurrency market experienced massive liquidations over the past 24 hours, totaling $375 million. Long positions accounted for $203 million in liquidations, while short positions contributed $172 million, indicating losses on both sides.
By major assets, Bitcoin long liquidations stood at $36.72 million and short liquidations at $85.47 million; Ethereum long liquidations reached $31.36 million and short liquidations $42.11 million. The data reflects heightened short-term volatility that affected leveraged positions across the board.
On the user level, 90,189 traders were liquidated globally in the past day. The largest single liquidation order occurred on Binance's BTCUSDT pair, valued at $6.65 million. Liquidations happen when margin requirements are no longer met due to adverse price moves, forcing exchanges to close positions automatically.