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Crypto Liquidations Reach $445 Million in 24 Hours, CoinGlass Says

CoinGlass states that 175,352 traders were liquidated over the past day, with short positions slightly exceeding long positions and the largest single order occurring on Binance.

Summary

CoinGlass data showed total crypto liquidations reached $445 million in the past 24 hours, up from the previously cited $392 million. A total of 175,352 traders were liquidated, including $218 million in long positions and $226 million in shorts, indicating slightly heavier losses among bearish traders. The largest single liquidation remained a $9.72 million BTCUSDC position on Binance.

Terms & Concepts
  • Liquidation: The forced closure of a leveraged trading position when losses exceed the margin backing the trade.
  • Long position: A trade that profits if an asset’s price rises and loses value when the price falls.
  • Short position: A trade that profits if an asset’s price falls and loses value when the price rises.