Crypto Liquidations Hit $1.23B in 24 Hours as Longs Lead

Crypto market liquidations totaled $1.23 billion over 24 hours, with long positions accounting for nearly nine-tenths of the total and far outpacing short positions. The imbalance put most of the reported forced closures on traders holding long contracts.

Long positions accounted for $1.09 billion, while short positions made up $144 million. The long-side amount was about 7.6 times the short-side figure, a gap of roughly $945 million. Long liquidations represented about 88% of the total; short liquidations accounted for about 12%.

Bitcoin (BTC) positions led the asset breakdown with $677 million in liquidations. Ether (ETH) positions totaled $191 million. Combined, the two assets represented $868 million, or about 70% of the overall tally. Bitcoin alone made up roughly 55% of all liquidations, while Ether represented about 15%.

The largest individual liquidation was a BTC-USD position on Hyperliquid valued at $31.1 million. That single liquidation represented about 2.5% of the market-wide total.