Bitcoin Sees $38.29 Million in Long Liquidations Over One Hour

Bitcoin (BTC) recorded $38.29 million in long-position liquidations during the hour ending at 11:28 a.m. ET (15:28 UTC) Oct. 8, as its price fell 1.22% to $81,572.

The total liquidation amount reached $40.12 million across Binance, Bybit and OKX, based on TokenPost’s direct collection and aggregation of the three exchanges’ public liquidation data. The figure covers those exchanges and does not represent the entire market.

Short positions accounted for $1.83 million of the total. Bitcoin’s price declined from $82,576 to $81,572 over the same one-hour period.

Long liquidations occur when leveraged bullish positions are forcibly closed after losses. The data shows that long positions made up the large majority of Bitcoin liquidations in the measured hour.