The crypto derivatives market experienced a significant wave of liquidations in the past 24 hours. According to data from Coinglass, total liquidations across the entire network reached $1.76 billion, with long positions accounting for $1.457 billion and short positions $303 million.
Breaking down by major assets, Bitcoin long liquidations hit $452 million, while short liquidations stood at $112 million. For Ethereum, long liquidations amounted to $409 million and shorts $64.7453 million. Together, Bitcoin and Ethereum long liquidations totaled $861 million, with short liquidations summing to $177 million, representing nearly 60% of the overall market's liquidation volume.
The event impacted a large number of traders, with 351,700 individuals seeing their positions forcibly closed. The largest single liquidation order occurred on Binance for the BTCUSDT perpetual contract, valued at $13.3164 million, marking the most significant single loss within the past day.