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Cryptocurrency markets saw a sharp wave of forced deleveraging over the past day, with roughly $258.1 million in leveraged positions wiped out as prices drifted lower. The liquidation skew was overwhelmingly one-sided: long positions accounted for the majority of closures, underscoring how quickly bullish bets were punished during the pullback.
Data compiled by CoinGlass showed that about 78.68% of total liquidations over the last 24 hours came from longs—an imbalance that typically appears when traders remain positioned for upside even as spot prices soften and volatility rises.
In the most recent four-hour window, Binance led all venues in liquidation volume, with around $8.73 million in positions closed, representing 35.28% of the total tracked across major exchanges. Longs made up $6.72 million of that figure, or 77.06%. Bybit ranked second with $3.97 million (16.03%) liquidated, again dominated by long closures at $3.09 million (77.97%). OKX recorded approximately $2.85 million (11.54%) in liquidations, with an even higher long ratio of 81.6%.
Among notable outliers, Hyperliquid posted one of the most extreme long-heavy liquidation profiles: roughly $1.6 million in liquidations, with 96.25% tied to long positions. The imbalance suggests the platform’s users were positioned aggressively for a rebound, leaving them particularly exposed as prices slipped.
By asset, Bitcoin (BTC) was the epicenter of the unwind. BTC-linked liquidations totaled about $126.25 million over the past 24 hours, while the coin fell 2.81% to around $68,592. In the latest four hours alone, CoinGlass data indicated about $4.16 million in BTC longs were liquidated versus roughly $0.32 million in shorts—another sign that the market’s downside move had caught a larger share of traders leaning long.
Ethereum (ETH) followed closely, posting approximately $103.65 million in liquidations over 24 hours, placing BTC and ETH together at roughly nine-tenths of all liquidations during the period. That concentration highlights a familiar pattern in risk-off moments: leverage tends to cluster around the most liquid majors, and when those assets dip, the knock-on effect across derivatives accelerates quickly.
Altcoins also saw notable flushes, though on smaller dollar totals. Solana (SOL) recorded about $11.11 million in liquidations over 24 hours as the token fell 2.97% to roughly $87.24. Over the latest four hours, SOL absorbed around $1.12 million of long liquidations, making it one of the hardest-hit among large-cap alts during the short window.