The cryptocurrency market recorded approximately $1.35 billion in leveraged position liquidations over the past 24 hours, with long positions accounting for about $1.07 billion (79.4%) of the total. Short positions saw $278.7 million liquidated during the same period. The wave of forced closures came as major assets including Bitcoin and Ethereum declined, triggering a broad unwinding of bullish bets.
Exchange and Asset Breakdown
Binance led exchange liquidations with $38.94 million in the last four hours, representing 42.69% of the total, with longs making up 95.3% of that figure. Hyperliquid followed at $23.2 million (25.43%), nearly all long positions. Bybit, Gate, and OKX recorded $10.77 million, $5.9 million, and $5.74 million respectively. Notably, HTX diverged from the trend: shorts accounted for 63.73% of its $1.07 million in liquidations, suggesting a brief sharp rebound in some trading pairs.
Bitcoin saw the largest absolute liquidation volume at $664.55 million over 24 hours, including $662.39 million in longs and just $2.16 million in shorts. Bitcoin traded at $104,716, down 1.07% on the day. Ethereum experienced $90.48 million in total liquidations, but uniquely saw short liquidations ($58.69 million) exceed longs ($31.79 million), indicating volatile price action that caught bearish traders off guard. ETH fell 4.11% to $3,671.70.
Altcoin Liquidations and Market Implications
Among altcoins, XRP saw $105.87 million liquidated, with $63.49 million in longs alone over four hours, as the token dropped 2.79% to $2.33. Solana fell 4.91% to $199.97, with $64.3 million in total liquidations. Cardano (ADA) declined 2.34% to $0.82 but saw $80.03 million liquidated, a disproportionately high figure relative to its price drop. Dogecoin shed 3.97% to $0.214, with $57.38 million in forced closures. Other notable liquidations included BNB ($91.48 million), Shiba Inu ($61.08 million), TRON ($45.93 million), Uniswap ($28.01 million), Avalanche ($27.28 million), and Chainlink ($24.86 million).
The concentration of liquidations in Bitcoin and Ethereum highlights systemic directional risk centered on large-cap assets. The mix of long-dominant closures on most exchanges, paired with short liquidation spikes on HTX and for Ethereum, points to a highly volatile market with sharp reversals rather than a simple one-way selloff. Traders are advised to manage leverage carefully as excessive positions unwind rapidly across both major coins and altcoins.