According to data from Coinglass, the cryptocurrency market recorded total liquidations of $385 million over the past 24 hours (as of 11:00 UTC on July 1, 2026). Long position liquidations reached $280 million, accounting for approximately 72.7% of the total, while short position liquidations stood at $104 million (27.3%). The overwhelming share of long liquidations indicates a sharp price decline that forced leveraged long positions to unwind.
Breakdown by Major Assets
Bitcoin long liquidations totaled $140 million, with short liquidations at $32.54 million, summing to approximately $173 million. Ethereum long liquidations were $48.43 million, and short liquidations were $26.19 million, totaling $74.6 million. Combined, BTC and ETH represented over 64% of the overall liquidation volume. This concentration suggests that the market correction was broad-based but led by the largest cryptocurrencies.
Liquidation Count and Largest Order
Across the market, 100,267 traders were liquidated within the 24-hour window. The single largest liquidation order occurred on Binance’s ETH/USDT perpetual contract, valued at $11.38 million, which accounted for about 2.96% of the total liquidation value. Such large single-liquidations often result from high-leverage positions that are forced to close during sudden price moves.
Market Implications
The data underscores the inherent risk of leveraged trading in crypto markets. When prices move rapidly, leveraged positions can be liquidated exponentially, exacerbating price declines. Traders are advised to closely monitor their leverage ratios, set appropriate stop-losses, and account for slippage in thin liquidity conditions. Moreover, the elevated liquidation volume may signal increased market uncertainty going forward, although post-liquidation rebound attempts are not uncommon.