Crypto Markets See $745 Million in Liquidations in One Hour

Crypto futures markets recorded $745 million in liquidations in the hour through 5:21 p.m. ET (22:21 UTC) Sunday, Nov. 8, with long positions accounting for about 96% of the total liquidations by value.

The one-hour tally included $715 million in liquidated long positions and $29.62 million in shorts. The reported sides add to $744.62 million, consistent with the rounded $745 million total.

Across the 24 hours through the same snapshot, about 137,000 traders had positions liquidated. Ether (ETH) accounted for $343 million of the asset total, $114 million more than Bitcoin (BTC) at $229 million. The largest single liquidation was a $48.16 million position in Binance’s ETH/USDT market.

On OKX at the same snapshot, Bitcoin was quoted at $74,643, down 1.52% over 24 hours after touching $73,500. Ether stood at $2,132.80, down 4.52% after reaching a low of $2,063.29. Both assets were lower over the 24-hour window accompanying the liquidation figures.