How much did liquidations spike Thursday?

TLDR

Liquidations surged to about $933 million on Thursday 20 Nov (UTC), based on 24-hour totals cited from CoinGlass in a Yahoo Finance report.

1. The Thursday spike was reported as near $1 billion in 24-hour crypto liquidations, per the report above.
2. The cascade extended into Friday, with roughly $1.9$2.0 billion liquidated over 24 hours, per multiple updates such as Yahoo Finance.

Deep Dive

1. Thursday Figure

As of Thursday 20 Nov (UTC), total crypto liquidations in the prior 24 hours were approximately $933 million. That figure came as Bitcoin fell toward the high $80,000s while majors sold off in tandem, per the CoinGlass tally cited by a Yahoo Finance report.

2. Spillover Into Friday

The unwind accelerated into Friday, pushing 24-hour liquidations to roughly $1.9$2.0 billion across the market. Several updates on Friday morning documented the move, including a Yahoo Finance piece noting about $1.91 billion in 24 hours and a large single BTC liquidation on Hyperliquid.

3. Why It Spiked

Two reinforcing forces likely drove the spike. First, leverage had built up, then quickly unwound as prices broke through supports. Second, risk appetite deteriorated as spot Bitcoin ETFs saw heavy net outflows of about $903 million on Thursday, the second-largest single-day redemption since launch, per a market update.

Conclusion

On Thursday 20 Nov (UTC), liquidations climbed to about $933 million over 24 hours, and the de-risking wave intensified into Friday, approaching $2.0 billion. The combination of built-up leverage and significant ETF outflows helped turn price declines into broader forced unwinds, raising near-term volatility risk.