About 255,000 traders were liquidated across the market, with Bitcoin, Ethereum and Zcash posting the largest reported losses in forced position closures.
Crypto liquidations reached $1.22 billion over 24 hours, with long positions accounting for $944 million and short positions making up $273 million. The wipeout affected roughly 255,000 traders, pointing to a broad market move that forced leveraged positions to close. Bitcoin recorded $368 million in liquidations, Ethereum saw $295 million and Zcash posted $108 million. Liquidations occur when exchanges automatically close leveraged bets after margin requirements are no longer met, often amplifying volatility during sharp price swings.