Data from Coinglass shows that total crypto market liquidations reached $326 million in the past 24 hours. Long liquidations amounted to $153 million, while short liquidations totaled $172 million, with shorts slightly outpacing longs. The massive forced closures reflect heightened volatility in crypto markets, as leveraged traders faced concentrated risk unwinding across both directions.
In terms of major cryptocurrencies, Bitcoin saw $30.34 million in long liquidations and $85.68 million in short liquidations; Ethereum recorded $25.08 million in long liquidations and $43.82 million in short liquidations. For both assets, short liquidations significantly exceeded long liquidations, indicating that price increases triggered a substantial wave of short covering. Across the market, a total of 82,676 traders were liquidated in the 24-hour period, with the single largest liquidation order occurring on Binance's BTCUSDT contract, valued at $6.6491 million.