In the past 24 hours, approximately $42.5 million (about 62.1 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, short positions accounted for $33.9 million, representing 79.8% of the total liquidations, while long positions were $8.6 million, accounting for 20.2%. This is analyzed as a large-scale liquidation of short positions that bet on a decline, as the market has recently shown an upward trend.
Binance experienced the most position liquidations in the past 4 hours, with a total of $27.08 million (63.73% of the total) liquidated. Among these, short positions accounted for $22.49 million, or 83.06%.
Bybit was the second-highest exchange with liquidations, with $9.77 million (23.01%) of positions liquidated, of which short positions were $7.99 million (81.73%).
Gate.io saw approximately $3.26 million (7.67%) in liquidations, with short positions at 68.75%. OKX experienced about $2.04 million (4.79%) in liquidations, with short positions accounting for 77.72%.
Notably, almost all major exchanges showed overwhelmingly high short position liquidation rates, reflecting the recent upward trend in the cryptocurrency market.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $16.31 million in Bitcoin positions were liquidated in 24 hours, with up to $7.9 million in short position liquidations in 4 hours. Bitcoin is currently trading at $85,140, up 0.17% in 24 hours.
Ethereum (ETH) saw about $10.24 million in positions liquidated in 24 hours, with $6.36 million in short position liquidations in 4 hours. Ethereum is currently priced at $1,613, up 0.68% in 24 hours.
Solana (SOL) had approximately $7.09 million liquidated in 24 hours, with $1.38 million in short position liquidations in 4 hours. Solana is trading at $141.1, showing a 2.05% increase.
Of particular note in this liquidation is the FARTCO Token, which saw $4.53 million in liquidations and a sharp rise of 9.97% in 24 hours. Within just 4 hours, $1.16 million in short positions were liquidated.
The Trump (TRUMP) Token also rose 2.20% with approximately $1.31 million in liquidations (long + short) in 24 hours. Additionally, substantial short position liquidations occurred in various altcoins such as 1000PEI and ONDO.
According to the liquidation heatmap, the 'Others' category recorded the highest liquidations at $19.11 million, with large liquidations also occurring in VOXEL ($14.80 million) and WCT ($5.09 million) tokens.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leverage position when a trader fails to meet margin requirements. This large-scale short position liquidation serves as an indicator of the market's strong upward momentum and could create additional upward pressure in the short term.
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