Crypto Liquidations Hit $629 Million in One Hour, Mostly Longs

Crypto derivatives positions worth $629 million were liquidated in one hour as crypto prices fell sharply, with bullish long trades accounting for almost the entire amount. That hourly wave made up most of the $953 million in liquidations recorded over the previous 24 hours.

Long positions represented $607 million of the hourly total, while short positions accounted for $21.74 million. Their combined $628.74 million rounds to the $629 million total.

Bitcoin (BTC) had $190 million in liquidations, the largest asset total among the three listed. Ether (ETH) followed at $157 million, and Solana (SOL) had $46.81 million.

The largest single liquidation was an $11.09 million BTCUSDT position on Binance. Long positions are trades that gain when an asset rises; their outsized share of the total indicates that most positions forcibly closed in this one-hour window were on the bullish side. Short positions, by contrast, are structured to benefit from falling prices.