Crypto Liquidations Hit $1.67 Billion Across 254,045 Traders in 24 Hours

Crypto derivatives markets saw $1.67 billion in positions forcibly closed over 24 hours, affecting 254,045 traders in a broad unwind led by Bitcoin and Ether contracts. The scale marks a sharp flush of leveraged bets across major crypto markets.

Long positions represented about 86% of liquidated positions, showing that forced closures were concentrated among traders positioned for prices to rise. Bitcoin (BTC) led with about $560 million, followed by Ether (ETH) at roughly $360 million.

Binance accounted for about half of liquidation volume. Hyperliquid, an onchain derivatives exchange, handled between 19% and 22%, while OKX made up a smaller share. The largest single closure was a BTCUSDT short on Binance valued at about $11.4 million.

In leveraged trading, traders post collateral to support larger positions. When the market moves far enough against a position, an exchange can close it automatically to keep the loss within the posted collateral. The $1.67 billion total measures the value of positions liquidated; it is not stated as traders’ net losses.