TLDR
About $968 million in long liquidations occurred across crypto over the past 24 hours, per CoinGlass data cited in a market update.
- Total liquidations were roughly $1.1 billion, with longs the majority per the same report.
- Other coverage shows a range near $900 million to $973 million in long wipes today (CoinGape).
- Largest single event: a $44.29 million BTC long on HTX, noted in the report above.
Deep Dive
1. Magnitude Today
The market saw a large long-side flush, with estimates clustering around $968 million in long liquidations and about $1.1 billion total over 24 hours. This is attributed to sharp price reversals and high leverage, as summarized in a market update.
Numbers vary slightly across outlets and time windows. Another coverage puts long-side liquidations between about $900 million and $973 million for the day (CoinGape).
Treat these figures as directional. They capture the scale of forced long closures today rather than an exact single number.
2. Notable Single Liquidations
The largest single liquidation reported today was a $44.29 million BTC-USDT long on HTX, reflecting concentrated pain in major perpetual venues as volatility spiked, per the market update.
Venue-level long liquidations were also heavy on Hyperliquid and Bybit during the worst window, reinforcing the idea that leverage clustered in popular derivatives platforms, according to the same report.
If you trade derivatives, monitor venue-specific liquidation heat and open interest. These pockets often amplify moves when liquidity thins.
3. Why It Spiked
Liquidations typically surge when funding, leverage, and momentum misalign with spot liquidity. Todays wipe followed a broad risk-off move and thinning depth, while ETF outflows added pressure earlier in the week, as noted in a separate ETF flows recap.
Coverage also highlighted clustered long-side liquidations across majors like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) as buy-side support thinned during the drawdown (CoinGape).
Risk note: Low depth plus concentrated leverage can widen spreads and accelerate drawdowns, increasing the likelihood of cascading liquidations.
Conclusion
Long liquidations today were on the order of $1 billion, with roughly $968 million in longs forced out and the largest single BTC event near $44 million. The combination of high leverage, thinning liquidity, and broader risk-off dynamics drove the flush, so watch funding, open interest, and venue heatmaps for early signals.
Confidence: moderate because estimates differ slightly across sources and roll with the 24-hour window definition.
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