Coinglass data showed a fast-moving surge in leveraged losses across major exchanges, with updated totals exceeding earlier snapshots and long positions, especially in Bitcoin and Ethereum, accounting for most of the damage.
Crypto derivatives markets recorded as much as $333 million in futures liquidations over 24 hours, including $114 million in the past hour, according to the later reported figures, while an earlier Coinglass snapshot showed $271 million and another earlier reading showed about $156 million affecting 61,900 traders. The later totals indicate a rapid escalation in leveraged stress rather than a different event. In the more detailed breakdown from the earlier snapshot, long positions dominated losses, with $228.2 million liquidated versus $42.8 million in shorts. Bitcoin accounted for $120.2 million in long liquidations and $22.1 million in shorts, while Ethereum saw $45.7 million in longs and $12.2 million in shorts liquidated. An even earlier snapshot had shown roughly $82.73 million in short liquidations, $72.91 million in longs, and the largest single liquidation as a $4.485 million ETHUSDC trade on Binance.