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Crypto Market Sees Over $560 Million in Liquidations in 24 Hours

According to CoinGlass and the provided market updates, more than 120,000 traders were liquidated in 24 hours, while Dogecoin alone saw $21.77 million in liquidations led by short-position losses.

BTC
ETH
SOL

Fact Check
The DOGE-specific component of the claim — $21.77 million in liquidations dominated by short positions (98%) — is directly and strongly confirmed by Odaily Newsflash 478788, which explicitly cites CoinGlass as its source and was published on 2026-04-29. The CoinGlass DOGE liquidations page corroborates that CoinGlass is the authoritative data provider for such figures. The broader claim of $560 million total liquidations and 120,000 traders could not be independently verified from a primary source for the April 29 event; the second Odaily newsflash (478861) shows a $112 million 4-hour window consistent with a larger 24-hour total, but does not confirm the exact $560 million figure. A BingX article from April 13, 2026 references a similar (but distinct) $531 million liquidation event, suggesting the scale is plausible for this period. The $560 million and 120,000 trader figures remain unconfirmed by a primary source in this run, introducing moderate uncertainty, but the DOGE-specific data is well-supported.
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Summary

Crypto derivatives markets saw more than $560 million in liquidations over the past 24 hours, affecting more than 120,000 traders, with the newer update reporting $368 million in long liquidations and $192 million in short liquidations. Within that broader market move, Dogecoin recorded $21.77 million in liquidations over the same period, of which $21.31 million came from short liquidations, showing a token-specific squeeze against bearish positions even as the wider market was driven mainly by long losses. An earlier CoinGlass snapshot captured $112 million in total liquidations over four hours, including $96.28 million in longs and $15.65 million in shorts, with Bitcoin at $27.7 million and Ethereum at $22.28 million in that shorter window. The newer update also listed Bitcoin at $75,733, Ethereum at $2,247, and Solana at $82, while Dogecoin’s largest single liquidation was $751,614 and activity was concentrated on Binance, Bybit, and Gate.

Terms & Concepts
  • Liquidation: The forced closure of a leveraged trading position when losses exceed a trader’s available or required margin.
  • Long position: A trade that profits if an asset’s price rises; long liquidations increase when the market moves down and bullish leveraged positions are forcibly closed.
  • Short liquidation: This happens when traders betting on a price decline are forced out of their positions because the asset’s price rises against them.