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Crypto Market Sees $314 Million Liquidations in 24 Hours

CoinGlass reports 89,394 traders faced forced position closures, with short positions dominating losses across major cryptocurrencies.

BTC
ETH

Summary

CoinGlass data shows 89,394 traders were liquidated in the past 24 hours, totaling $314 million. Short positions accounted for $241 million of the losses, while long positions were responsible for $72.15 million. The largest single liquidation occurred on Bitget’s ETHUSDT_UMCBL contract, valued at $32.51 million.

Terms & Concepts
  • Liquidation: The forced closure of a trader's position due to insufficient margin to maintain the trade.
  • Short Position: A trading strategy where an investor sells an asset expecting its price to decline, aiming to buy it back at a lower price.
  • Long Position: A trading strategy where an investor buys an asset expecting its price to rise, intending to sell it later at a higher price.