Crypto Liquidations Top $609 Million as 105,660 Traders Are Hit

Crypto positions worth $609 million were liquidated over the 24 hours through Oct. 7, affecting 105,660 traders and underscoring the scale of losses in leveraged markets.

Long positions accounted for $545 million of the liquidations, while short positions made up $64.39 million. The figures cover forced closures across the crypto market during the period.

The largest single liquidation was valued at $26.64 million on Binance’s ETHUSDC market, involving Ether (ETH). A liquidation occurs when an exchange forcibly closes a leveraged position after losses reduce the trader’s collateral below required levels.

The total highlights the risk of leverage during sharp market moves, with long traders bearing most of the forced closures in the latest 24-hour period.