Crypto Exchanges Liquidate $74.1 Million as Longs Take 60%

Crypto exchanges closed $74.1 million in leveraged positions over the 24 hours through 2:24 a.m. ET (06:24 UTC) Oct. 14, with traders betting on rising prices bearing 60% of the losses across 26,006 orders.

Long liquidations totaled $44.4 million, compared with $29.7 million in short liquidations. Binance recorded $50.1 million in liquidations, followed by OKX with $17.7 million and Bybit with $6.3 million.

Ether (ETH) led the listed assets with $15.1 million in liquidations, including $8.3 million in longs and $6.8 million in shorts. Bitcoin (BTC) totaled $13.2 million, with $6.1 million in longs and $7.2 million in shorts. Component figures may not sum to listed totals because of rounding.

Solana (SOL) liquidations reached $5.6 million, split between $3 million in longs and $2.6 million in shorts. ZEC totaled $4.9 million, including $1.9 million in longs and $2.9 million in shorts. SNDK recorded $2.9 million, with $1.8 million in long and $1.1 million in short liquidations, while SOXL had $1.6 million, including $1.1 million in longs and $444,472 in shorts.

The largest single liquidation was an $802,596 Bitcoin short on Binance at 10:11 a.m. ET Oct. 13. A liquidation is an exchange's forced closure of a leveraged position when the trader's margin falls below the required level.