TokenPost.ai
More than $545 million in leveraged crypto positions were liquidated over the past 24 hours, underscoring how quickly risk can unwind when a crowded derivatives market meets renewed downside pressure. The rout was heavily skewed toward bullish bets, with long liquidations accounting for roughly $406 million—about 80% of the total—suggesting that a large share of traders were positioned for continuation upside before prices slipped.
Data compiled from CoinGlass shows that the liquidation wave coincided with broad, modest price declines across major assets, while select tokens experienced sharp two-way flows as intraday rebounds triggered pockets of short covering. In crypto derivatives, a 'liquidation' occurs when an exchange forcibly closes a leveraged position after a trader’s margin falls below maintenance requirements—often accelerating price moves as positions are closed into the market.
In the most recent four-hour window, exchange-tracked liquidations (excluding Bitfinex) totaled about $25.34 million. Binance led with approximately $12.72 million—around 50% of the total—with longs making up 78.7% of its forced closures. Bybit followed with $2.75 million (10.84%), OKX with $2.60 million (10.25%), Hyperliquid with $2.16 million (8.54%), and Bitget with $2.09 million (8.25%). Hyperliquid stood out for the composition of its wipeout: 99.84% of liquidations were long positions, pointing to an aggressive unwind of 'overheated' upside leverage. Aster, while small in overall volume at roughly $329,550, showed a comparatively higher short share, making its long-short balance notably tighter than peers.
Liquidations were concentrated in the two largest crypto assets by market capitalization. Ethereum (ETH) and Bitcoin (BTC) absorbed the bulk of the damage, reflecting their central role as collateral and directional proxies in the global perpetual futures market. Over 24 hours, ETH saw roughly $255.2 million in liquidations, while BTC registered about $284.9 million. At the time of the data snapshot, BTC traded near $104,300, down about 1.4% on the day, with approximately $176.9 million in long liquidations alongside $108.0 million in shorts. ETH traded around $2,510, down roughly 1.7%, but the composition was more one-sided: about $201.8 million in longs were wiped out versus around $53.4 million in shorts.
That imbalance was even more apparent in shorter timeframes. On the one-hour view, ETH long liquidations reached about $72.2 million, exceeding BTC’s roughly $63.3 million, indicating a sharper short-term shock in ETH-linked leverage. Over four hours, BTC liquidations were comparatively mixed—about $48.6 million in longs versus $35.9 million in shorts—while ETH showed clearer long dominance at roughly $47.8 million compared with $24.8 million in shorts.