Bitcoin Long Liquidations Reach $11.43 Million in One Hour

Bitcoin (BTC) long liquidations reached $11.43 million in the hour through 1:36 p.m. ET (17:36 UTC) on Oct. 2, as the largest cryptocurrency by market capitalization fell 0.56%. The figures cover public liquidation data collected and totaled across Binance, Bybit and OKX, not the entire market.

Total liquidations across those three exchanges were $11.65 million. Long positions accounted for $11.43 million, while short positions totaled $220,000. Bitcoin’s price moved from $85,178 to $84,701 over the same hour.

Liquidations occur when exchanges automatically close leveraged positions after traders no longer meet margin requirements. The supplied figures describe activity on the three exchanges during that one-hour period.