Crypto Sell-Off Triggers $860 Million in Long Liquidations in 24 Hours

A broad sell-off across crypto markets liquidated $860 million in long positions over 24 hours, with falling prices across several tokens leaving those positions responsible for most of the forced closures.

Bitcoin (BTC) traded at $80,654, down 3.13% over 24 hours, while Ether (ETH) fell 6% to $2,350. Solana (SOL) declined 5% to $101.8, and Litecoin (LTC) dropped 6.2% to $57.8. The largest listed declines were in OP, down 16%, JTO, off 13.6%, and RAY, down 13%.

Liquidations across the market totaled $935 million during the same period. Long positions accounted for $860 million; short positions made up $75.25 million. Using the rounded overall total, long positions represented about 92% of liquidations.

A long position is a trade that benefits from a rise in an asset’s price. The liquidation split shows traders positioned for gains absorbed most of the forced closures as prices across the listed assets moved lower. Across the seven listed assets, every reported 24-hour price move was negative, ranging from 3.13% to 16%.