Crypto Liquidations Hit $2.15M as Longs and Shorts Both Get Squeezed

By venue, Binance was the largest contributor with $8.78 million in four-hour liquidations, about 45% of the period's total, where shorts comprised 53.92%. Bybit followed with $2.79 million, where longs held a slight edge at 53.79%. Hyperliquid posted $2.50 million with shorts at 56.4%. OKX saw $2.19 million and stood out for the strongest short skew: $1.69 million, or 69.8%, tied to short liquidations. Gate recorded $1.74 million, Bitget about $992,180.

One-hour data also showed Bitcoin and Ethereum leading liquidations – $104,100 and $82,100, respectively – evidence that exposure is being repriced quickly as traders adjust to rapid swings.

CoinGlass liquidation heatmap figures showed where leverage concentrated. The 24-hour heatmap placed Bitcoin at $50.75 million and Ethereum at $22.45 million as the primary hubs. Smaller tokens such as SNDK ($9.23 million), BANK ($7.24 million), and DEXE ($4.09 million) registered unusually high liquidation clusters relative to their market profiles, pointing to heavier leverage build-ups in mid- and small-cap names.

A liquidation occurs when an exchange forcibly closes a leveraged futures or margin position after collateral falls below maintenance requirements. The data suggests that while the past day's decline disproportionately punished bullish leverage, the latest exchange-level breakdown shows shorts also getting squeezed in bursts – an indication that volatility is expanding in both directions as traders crowd into directional bets.