Long positions made up the larger share of forced closures, while Bitcoin and Ether led losses among major digital assets.
The crypto market posted $173 million in liquidations in the past 24 hours, with long positions accounting for $113 million and short positions totaling $60.53 million. Bitcoin recorded $45.48 million in liquidations and Ether saw $33.02 million. Liquidations occur when leveraged positions are forcibly closed after traders can no longer meet margin requirements, making them a common signal of sharp market moves and elevated volatility.