In the past 24 hours, approximately $300 million worth of leverage positions were liquidated in the cryptocurrency market.
According to the current aggregated data, short positions accounted for about 75.54% of total liquidations over a 4-hour period, significantly exceeding long position liquidations.
Over the past 4 hours, Bybit had the most position liquidations, with a total of $9.97 million liquidated. Among these, short positions accounted for $7.67 million, or 76.99%.
Binance was the second-highest exchange with liquidations, with $7.24 million in positions liquidated, of which short positions were $5.43 million (75.07%).
OKX saw approximately $5.17 million in liquidations, with short positions at 74.82%. HTX and Gate.io also had liquidations of $3.93 million and $3.57 million, respectively.
Notably, BitMEX only had long positions liquidated, which, unlike most exchanges where short position liquidations were dominant, suggests an overall market uptrend.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $150.97 million in Bitcoin positions were liquidated in 24 hours, with $8.32 million in short positions and $2.41 million in long positions liquidated over 4 hours. Bitcoin is currently trading at $76,914, down 2.58% in 24 hours.
Ethereum (ETH) saw about $119.51 million in positions liquidated in 24 hours, with $8.25 million in short positions and $2.52 million in long positions liquidated over 4 hours. Ethereum is currently trading at $1,481, showing a relatively significant drop of 5.34% in 24 hours.
Solana (SOL) had approximately $19.34 million liquidated in 24 hours, followed by XRP ($17.72 million) and Doge ($12.34 million) among other major altcoins.
The Trump Token (TRUMP) saw about $1.59 million in liquidations, currently trading at $7.654, down 1.95% in 24 hours. Notably, over 4 hours, $74.88 million in short positions were liquidated, indicating an upward trend.
Interestingly, the FARTCO token experienced a significant price drop of 5.48% with $5.50 million in positions liquidated in 24 hours. The HYPE token saw nearly $360,000 in liquidations despite a 3.51% price increase.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leveraged position when a trader fails to meet margin requirements. Recent large-scale short position liquidations suggest the market has shown an unexpected upward trend, indicating expanding volatility.
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