Leverage Unwind Triggers $4.66B in Crypto Liquidations

More than $4.66 billion in crypto positions were liquidated over the past 24 hours, data from Coinglass show. The total split roughly into $2.43 billion in long liquidations and $2.24 billion in short liquidations.

In the most recent four-hour window, liquidations totaled about $13.2 million. Binance accounted for roughly $8.65 million, or 65.5% of the total, with shorts making up 57.1% of its liquidations. Bybit saw $1.40 million, Bitget $1.13 million, and OKX $0.90 million. Shorts made up 57% of the four-hour total across those venues. Hyperliquid reported short liquidations at 93.1% of its four-hour total.

Bitcoin (BTC) traded near $106,800, up 0.18% on the day. Over 24 hours, Bitcoin saw about $1.43 billion in long liquidations and $1.38 billion in short liquidations. Ethereum (ETH) changed hands near $2,507, up 0.80%. Ethereum's 24-hour liquidations totaled $520.1 million for longs and $618.2 million for shorts.

Among altcoins, Solana (SOL) rose 1.81% to $157.44 with about $157.7 million in total liquidations. XRP gained 2.00% to $2.15 with roughly $160.6 million liquidated. Dogecoin (DOGE) climbed 1.44% to $0.1827 and saw $161.2 million in liquidations, split $83.6 million from longs and $77.6 million from shorts. Other tokens with large liquidation totals included Cardano (ADA) at $83.5 million, Sui at $61.3 million, Avalanche (AVAX) at $45.6 million, and Chainlink (LINK) at $61.7 million.