Crypto Liquidations Hit $991M as Short Squeeze Unwinds

Nearly $991 million in leveraged crypto positions were forcibly closed over 24 hours. Short traders took the bulk of the losses as a sharp market rebound triggered forced closures across major exchanges.

Data from CoinGlass shows short liquidations hit $830.91 million, or 83.78% of the total. Long liquidations came to $160.69 million. That imbalance suggests the market was heavily positioned for downside before the move reversed, according to CoinGlass.

Binance saw $231.9 million in liquidations over the most recent four-hour window, 31.5% of the tracked total. Shorts made up $195.2 million of that, or 84.17%. Bybit followed with $135.4 million, shorts at $119.8 million. HTX showed a different pattern: long liquidations accounted for 85.82% of its total, indicating some exchanges saw downside pressure even as the broader market squeezed higher.

By asset, Ethereum (ETH) led with $104.85 million in liquidations over 24 hours, with a four-hour peak of $11.76 million. Bitcoin (BTC) followed at $100.43 million, with a four-hour peak of $14.10 million. Solana saw $11.50 million, XRP $6.10 million, and LAB $6.69 million. Dogecoin saw smaller volumes, helped by a 0.73% price gain.

A liquidation happens when a leveraged trader cannot meet margin requirements and the exchange closes the position. The scale of forced closures here signals elevated leverage and fragile positioning in crypto derivatives markets. When prices move against crowded bets, the unwind can amplify the move.

The liquidation data covers the 24 hours ending at 8:00 a.m. UTC. CoinGlass updates the figures every four hours.