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Crypto futures liquidations hit $258 million in 24 hours

CoinGlass data showed about 76,800 traders were affected, with short liquidations reaching roughly $215 million and the largest single wipeout a $7.856 million BTCUSDT contract on Binance.

Summary

Crypto futures liquidations totaled about $258 million over the past 24 hours, affecting roughly 76,800 traders, according to CoinGlass. Short positions accounted for about $215 million of the total, while long liquidations were about $42.71 million. The largest single liquidation was a $7.856 million BTCUSDT contract on Binance. Liquidations occur when leveraged futures positions are forcibly closed after traders can no longer meet margin requirements, a process that can amplify volatility during sharp market moves.

Terms & Concepts
  • crypto futures liquidations: Forced closure of leveraged futures positions when losses trigger exchange rules.
  • short positions: Trades that profit if an asset's price falls and lose money if it rises.
  • margin requirements: Minimum collateral traders must maintain to keep leveraged positions open.