TLDR
About $1.01 billion in crypto positions were liquidated over the last 24 hours, a commonly cited today metric from derivatives trackers (report).
- Longs took most of the hit, roughly $720 million vs about $280 million in shorts (market update).
- The largest single order was a BTC position of about $96.5 million on Hyperliquid (coverage).
Deep Dive
1. Scale Of Liquidations
Total liquidations around the market were about $1.01 billion in the last 24 hours, which is the figure most outlets quote for today because it rolls intraday activity into a single 24-hour snapshot (report). Some sources round this to roughly $1.03 billion depending on the exact observation time and data provider (market update).
Expect small discrepancies by source and timestamp. Using a 24-hour window is standard for cross?day comparisons.
2. Longs Vs Shorts
Coverage citing CoinGlass shows most liquidations came from long positions, around $720 million vs roughly $280$310 million for shorts, reflecting a down?move that forced leveraged longs out first (market update). This pattern is typical when prices sell off quickly and depth thins.
High leverage plus fast declines can amplify long-side liquidations. On such days, spreads can widen and slippage increases.
3. Largest Single Order
The days largest single liquidation was reported as a BTCUSD position near $96.5 million on Hyperliquid, highlighting size concentration risk during sharp moves (coverage).
One or two outsized positions can accelerate cascades when liquidity is thin, so the tape can look worse than the underlying spot depth suggests.
Conclusion
Roughly $1 billion in liquidations today indicates a deleveraging day with longs bearing most losses. The combination of high leverage and thin liquidity explains the magnitude and concentration of forced exits. If volatility stays elevated, watch whether long liquidations ease and whether large single?order events subside, which would signal stabilization.
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