Longs and Shorts Both Hit as $326M Crypto Liquidations Surge

Over $326 million in leveraged crypto positions were liquidated across major exchanges in the past 24 hours, a cycle of forced unwinds that caught both bullish and bearish traders.

CoinGlass data showed long liquidations reached roughly $200.5 million, about 62% of the total. Short liquidations hit about $125.5 million, or 38%. The mix suggests the market leaned bullish but saw sharp reversals that also trapped bearish bets, exchange data showed.

In the most recent four-hour window, Binance led with about $8.23 million in liquidations, or 42.5% of the tracked total. Shorts made up $4.76 million of that figure, or 57.8%, pointing to a short-term upward snap that forced out some downside hedges, according to exchange data. OKX ranked second with roughly $3.32 million in liquidations, dominated by shorts at $2.69 million, or 81.1%. Hyperliquid followed with about $2.48 million, where longs represented 80.97% of the forced closures.

Gate stood out with a short-liquidation share of about 79.1%, a pattern that can emerge when a rapid intraday rebound forces bearish traders to close positions at a loss. Exchange-by-exchange differences often reflect where leverage is most concentrated and how quickly risk engines trigger forced closures once margin thresholds are breached, traders said.

By token, Bitcoin recorded the largest wipeout in absolute terms. BTC-related liquidations totaled about $71.24 million over 24 hours, with a peak of $71.38 million in a four-hour slice. Ethereum followed with about $60.96 million in 24-hour liquidations and up to $69.56 million at the four-hour high, CoinGlass data showed.