Cryptocurrency derivatives liquidations surged to about $1.345 billion over the past 24 hours, hitting 105,370 traders as a sharp upward move in prices wiped out heavily leveraged short positions. Short liquidations totaled about $1.191 billion, far exceeding roughly $153 million in long liquidations, according to CoinGlass. Binance recorded the largest amount of forced closures at about $559 million, followed by Bybit at about $311 million, Gate at about $111 million and Bitget at about $101 million. Bitcoin and Ether accounted for the biggest share of the move, with BTC short liquidations reaching about $662 million over 24 hours and ETH short liquidations about $366 million. Liquidations occur when exchanges forcibly close leveraged positions after traders can no longer meet margin requirements. The latest figures mark a sharp escalation from earlier snapshots cited in this story, which showed lower 24-hour totals and different long-short balances, indicating rapidly changing conditions during a volatile trading period. The concentration in BTC and ETH short liquidations suggests that traders betting on lower prices were caught offside as the market moved higher.