TLDR
About $2.31 billion in crypto derivatives were liquidated this week (MonSat, UTC) based on daily CoinGlass tallies cited by media.
- The largest daily spike was about $781 million on 1 Dec per a media summary.
- Midweek saw roughly $482 million in 24 hours on 3 Dec per a market update.
- Other days ranged roughly $267$430 million, for example $331 million on 2 Dec and $430 million on 6 Dec per reports and coverage.
Deep Dive
1. Biggest Daily Flush
The week opened with the heaviest single-day wipeout, about $781 million in 24h liquidations on 1 Dec.
- A 24h surge to over $781 million was reported as bulls were forced out during a sharp drop, citing CoinGlass reads in a media summary.
- The spike aligned with broader risk-off headlines that amplified volatility, per the same piece above.
Early-week positioning was stretched, so a fast move triggered outsized forced closes as margin thresholds were hit.
2. Midweek Clean-Up
By 3 Dec, another sizable liquidation cluster (~$482 million, 24h) hit as markets whipsawed.
- About $481.82 million across 122,371 accounts was tallied in a 24h window, with the largest single liquidation at $13 million on Bybit per a market update.
- A separate daily read also framed the move as a short-squeeze/whipsaw environment, reinforcing the volatility regime (see the market update above).
Even after the initial flush, leverage remained elevated enough for midweek swings to force more closures.
3. Rest Of Week And Weekly Total
Other days were smaller but still material, adding up to at least $2.31 billion from MonSat (UTC).
- 2 Dec saw about $331 million in 24h liquidations per a report.
- 5 Dec landed near $286.5 million in 24h, while 6 Dec was around $430 million, per separate coverage and reports.
- Adding these daily reads (Mon, Tue, Wed, Fri, Sat) yields approximately $2.31 billion, with some uncertainty for 4 Dec and today due to reporting gaps and overlapping 24h windows.
Leverage was repeatedly reset but not fully purged, creating a backdrop where sharp moves can still cascade into forced closes.
Conclusion
This weeks liquidations were heavy and recurring, with the largest hit early in the week and continued midweek volatility. The rough weekly tally sits around $2.31 billion based on media-cited CoinGlass daily totals, and the actual figure may be higher depending on how 24h windows are stitched. If large one-day spikes persist, the market likely remains in a fragile leverage regime.
Confidence: moderate because figures rely on media tallies of 24h CoinGlass reads and different day windows can overlap. Quick check: compare the latest CoinGlass weekly summary to the reports above.
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