TLDR
Crypto liquidations spiked to about $2 billion in 24 hours during the 22 Nov selloff, with follow?through days in the $200$370 million range per multiple reports. selloff tally daily range example
- Peak day saw roughly $2 billion liquidated across longs and shorts. report
- Subsequent sessions showed $206$368 million liquidated over 24 hours. examples another
- Composition varied by day, with shorts leading on several sessions. breakdown
Deep Dive
1. Peak Spike
The largest recent spike was around $2 billion in 24 hours during the 22 Nov drawdown. Coverage highlights broad forced unwinds across BTC and ETH derivatives. See the selloff tally.
- Drivers cited included macro data surprising hawkish and heavy options/derivatives positioning. The same report describes outsized BTC option expiries around that window. selloff tally
Big spikes tend to coincide with macro surprises and crowded leverage. If you track derivatives positioning, you can anticipate stress points.
2. Typical Daily Range
Outside that peak, daily liquidations have clustered between ~$200 million and ~$370 million over 24 hours in recent days. Examples include $206.39 million and $368 million reported by separate outlets. example another
- Other snapshots in the same week show $318 million and $337 million liquidated, reinforcing the hundreds of millions baseline. snapshot follow?through
The market is still highly levered. Even moderate price swings are canceling hundreds of millions in positions, affecting short?term momentum.
3. Longs vs Shorts
Composition flips with direction. Several sessions saw shorts dominating the liquidations, while others cleared overleveraged longs. One example shows shorts leading at $163 million versus $142 million in longs within a $318 million total. breakdown
- On rebound days, shorts tend to be squeezed first; on sharp drops, long positions bear the brunt. A separate snapshot shows longs at $126 million and shorts at $185 million within $310 million total. session mix
Directional bias in liquidations offers a clue to near?term trend persistence. Short?heavy liquidations can fuel squeezes; long?heavy can deepen selloffs.
Conclusion
Liquidations surged to roughly $2 billion during the late?November shock, then settled into a pattern of hundreds of millions per day as volatility persisted. Watching the mix of long versus short liquidations helps gauge whether squeezes or trend extensions are more likely in the next sessions.
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