Ether Liquidations Reach $288.6 Million as Long Positions Dominate

Ether (ETH) derivatives positions worth $288.6 million were liquidated across exchanges in the 24 hours through 1:31 a.m. ET Thursday (05:31 UTC), with long trades accounting for 92.1% of the forced closures.

Long liquidations totaled $265.67 million, while short liquidations accounted for $22.93 million. The 24-hour total stood at $283.1 million at 11:31 p.m. ET Wednesday (03:31 UTC), including more than $261 million in long positions. The readings reflect rolling 24-hour windows.

ETH was priced at $2,351.63 at 1:50 a.m. ET Thursday (05:50 UTC), down 6.2% over 24 hours.

U.S. consumer prices rose 3.7% year over year in September, up from 3.4% in August. The monthly increase was 0.6%, compared with 0.4% in August. The inflation report was released at 8:30 a.m. ET Wednesday (12:30 UTC).

A liquidation is an exchange-forced closure when a trader’s collateral cannot support an open leveraged position. Long positions are bets on price increases, so their share shows that bullish trades made up most of the positions closed.