Crypto Market Records $2.6 Billion in Liquidations Over 24 Hours
According to Coinglass data, a sharp surge in liquidations dominated crypto markets over the past 24 hours, with long positions accounting for most losses amid heightened volatility across major exchanges.
Summary
Coinglass data shows that total crypto market liquidations reached $2.597 billion over the past 24 hours, including $2.129 billion from long positions and $467 million from shorts. The event affected 577,179 traders, with the largest single liquidation—a $12.02 million BTCUSDT position—occurring on Binance. Earlier in the period, liquidations had already totaled $555 million within a single hour, underscoring extreme market volatility.
Terms & Concepts
- Liquidation: The forced closure of a leveraged trading position when losses exceed margin requirements, resulting in realized losses for traders.
- BTCUSDT: A commonly traded perpetual futures pair representing Bitcoin priced against the Tether (USDT) stablecoin on crypto exchanges.
- Coinglass: A cryptocurrency data platform that tracks derivatives market metrics such as liquidations, open interest, and funding rates.