The cryptocurrency market has experienced significant turbulence in the last 24 hours, leading to large-scale liquidations of both long and short positions.
As traders faced sudden price swings, liquidations across exchanges soared, with a total of $126.88 million liquidated. The majority of this figure—$101.36 million—came from long positions, while short positions accounted for $25.52 million.
Breakdown of Liquidations
- 1-Hour Liquidations: $3.34 million in longs and $195.60K in shorts were liquidated, totaling $3.53 million.
- 4-Hour Liquidations: $40.89 million were liquidated, with $37.32 million from long positions and $3.56 million from shorts.
- 12-Hour Liquidations: $82.18 million in total, of which $70.48 million were longs and $11.70 million were shorts.
- 24-Hour Liquidations: The highest figure of the day, with $126.88 million, comprised $101.36 million in long liquidations and $25.52 million in short liquidations.
The majority of liquidations occurred on Binance, OKX, and Bybit:
- Binance: $19.48 million liquidated, with 89.03% of this in long positions.
- OKX: $14.18 million liquidated, with 93.77% being longs.
- Bybit: $4.05 million liquidated, with 94.46% in long positions.
Top Cryptocurrencies Affected
- Bitcoin (BTC): Price dropped to $63,420.1, with $14.94 million in longs and $6.77 million in shorts liquidated over the last 24 hours.
- Ethereum (ETH): Price fell to $2,687.94, leading to $27.76 million in long liquidations and $4.61 million in shorts.
- Solana (SOL): With a slight dip to $158.48, $3.31 million in longs and $1.92 million in shorts were liquidated.
- XRP: Price decreased to $0.5847, resulting in $1.48 million in long liquidations and $84.83K in shorts.
- BNB: Dropped to $553.49, causing $1.03 million in long liquidations.
The latest wave of volatility has primarily impacted traders holding long positions, with over 90% of liquidations in the last 24 hours affecting long traders across major exchanges. Bitcoin and Ethereum, as expected, bore the brunt of these liquidations, with other major assets like Solana, XRP, and BNB also seeing significant sell-offs.
