Crypto traders lost $1.49 billion to forced liquidations over the past 24 hours, with Bitcoin bulls absorbing the heaviest losses as long positions were wiped out across exchanges. According to Coinglass data, 243,456 traders were liquidated during the market downturn.
Long Positions Account for 86.8% of Total Liquidations
Bullish bets made up the vast majority of the damage, with long positions accounting for $1.29 billion, or 86.8%, of the total 24-hour liquidations. Short sellers accounted for $197.08 million in forced closures. Pressure accelerated within a concentrated window, as $1.33 billion in liquidations occurred over just 12 hours—representing nearly 90% of the daily total.
Bitcoin (BTC) registered the largest share of liquidations at $475.19 million, with long positions comprising 87.6% of that amount as BTC dropped 4.67% to $77,111. Ethereum (ETH) followed with $330.59 million in liquidations (84.7% longs) as its price fell 5.40% to $2,218.
Other major assets also saw substantial liquidation volumes:
- Solana (SOL): $82.50 million in liquidations with price down 6.94% to $94.38.
- XRP (XRP): $37.56 million in liquidations as price slipped 7.54% to $1.22, following recent pressure where XRP dipped below $1.30 support.
- Other Altcoins: $178.72 million in liquidations across smaller tokens, with 89.2% coming from longs.
- Notable Individual Loss: High-profile trader Machi (@machibigbrother) was liquidated 8 times in 6 hours, leaving $1.50 remaining in his account on Hyperliquid.
The leverage flush extended to traditional asset contracts, with silver derivatives seeing $15.23 million in liquidations and SanDisk contracts recording $16.06 million. Market volatility coincided with ongoing investigations into a potential security issue at Binance, which pledged to cover losses after temporarily halting deposits and withdrawals.
Hyperliquid and TRON Rally Against the Sell-Off
While the broader market declined, select assets posted gains against short sellers. Hyperliquid (HYPE) rose 12.74% to $90.37, generating $30.86 million in liquidations that mostly hit short positions. The move follows reports regarding ICE planning Hyperliquid futures for the US market. TRON (TRX) also moved counter to the trend, gaining 9.34% to reach $0.3601.
Why It Matters
This massive liquidation event demonstrates how over-leveraged long positions can create cascading sell-offs when key price supports break. The concentration of nearly 90% of total daily liquidations into a 12-hour period highlights the speed at which automated margin liquidations compound market declines. Investors should monitor whether open interest resets allow prices to stabilize or if ongoing exchange uncertainty will trigger further defensive de-risking.
