Crypto Longs Take $143M Hit as Leverage Gets Flushed

Leveraged crypto traders lost about $194.25 million in the past 24 hours, with long positions absorbing roughly three-quarters of the damage as Bitcoin, Ethereum, and XRP pulled back. The flush follows a familiar script for risk-off stretches: prices slip, margin requirements tighten, and forced selling accelerates the move lower.

CoinGlass data shows long liquidations at $143.37 million, or 73.8% of the total, against $50.88 million in short liquidations. That skew suggests traders were positioned for upside continuation and got caught when the market drifted lower and volatility picked up. Bitcoin led the way with $50.26 million in forced closures as BTC fell 1.03% to $113,873. Ethereum followed at $34.03 million, with ETH down 1.39% to $3,809.

XRP stood apart among the majors. About $22.56 million in liquidations accompanied a sharper 4.15% decline, a sign that leverage in that token was particularly exposed to the downside move. BNB saw $15.36 million in liquidations, HYPE $10.54 million, Aave $9.43 million, and Sui $7.47 million. Dogecoin recorded $5.62 million while falling 2.08%, and Solana logged $5.01 million alongside a 2.07% drop.

Exchange-level data showed uneven positioning. In the most recent four-hour window, Binance led with roughly $4.19 million in liquidations, about 58.61% of the total, with longs at 70.25%. OKX followed at $1.05 million with a 56.95% long share, and Bybit posted $715,710 with longs at 64.76%. But Gate recorded $664,990 in liquidations where shorts dominated at 60.29%, and HTX showed an 81.36% short-liquidation share. Hyperliquid's total was small at $25,800, yet almost entirely long at 99.34%.