Crypto Market Liquidation Wave: $279 Million in 24 Hours

In the past 24 hours, the cryptocurrency ecosystem experienced significant liquidation activity, reaching a total volume of $279 million according to Coinglass reports. This liquidation flow reflects the market’s characteristic volatility and the pressure faced by investors with leveraged positions.

Bitcoin records the largest long position liquidations

Bitcoin leads the liquidation list, with its long positions experiencing $46.77 million in liquidations, while short positions faced $18.47 million. This disparity in Bitcoin liquidations suggests greater pressure on leveraged buyers, indicating significant movements in the futures market of the sector’s most prominent asset.

Ethereum leads in total liquidation volume

Ethereum showed even more pronounced figures in terms of liquidations. ETH long positions saw $63.43 million liquidated, making it the largest individual volume of liquidations recorded in the 24-hour period. Ethereum’s short positions, on the other hand, totaled $25.69 million in liquidations, completing a picture where both sides of the market experienced pressure.

Overall liquidation distribution: dominance of long positions

In the general context, long positions accumulated $170 million of the total liquidations, according to ChainCatcher data, while short positions registered $109 million. This roughly 60-40 ratio indicates that leveraged buyers faced greater pressure during this period, a typical factor in corrections or moments of uncertainty in the crypto market where cascading liquidations can accelerate price movements.