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Coinglass Reports $384 Million in Crypto Liquidations Over 24 Hours

Data from Coinglass shows a surge in market volatility, with over 133,000 traders liquidated and long positions bearing the majority of losses.

Fact Check
Multiple pieces of evidence (Sources 2, 5, and 6) directly confirm that a $384 million liquidation event over a 24-hour period was reported. Source 2 explicitly attributes this data to Coinglass. While other sources report different liquidation amounts for different days, this does not invalidate the statement, which claims that such a report occurred, not that it is a current or constant figure. The evidence strongly supports that this specific amount was reported on at least one occasion.
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Summary

According to Coinglass, the cryptocurrency market experienced $587 million in liquidations over the past 24 hours, impacting 133,228 traders worldwide. Long positions accounted for $504 million in liquidations, while short positions saw $82.32 million closed. The data underscores a strong wave of market volatility with disproportionate losses for leveraged long traders.

Terms & Concepts
  • Liquidation: Forced closure of leveraged positions when margin requirements are not met, causing automatic sell-offs or buy-backs.
  • Long Position: A bet that an asset’s price will rise; liquidated if prices fall and margin is insufficient.
  • Short Position: A bet that an asset’s price will fall; liquidated if prices rise against the position.