In the past 24 hours, approximately $464 million (about 678 billion won) worth of leveraged positions were liquidated in the cryptocurrency market.
According to the currently aggregated data, long positions accounted for about $392 million, representing 84.5% of the total liquidations, while short positions were around $72 million, accounting for 15.5%.
Bybit had the most position liquidations in the past 4 hours, with a total of $109.93 million (41.89% of the total) liquidated. Among these, long positions accounted for $104.29 million, or 94.87%.
Binance was the second-highest exchange with liquidations, with $76.43 million (29.12%) of positions liquidated, of which long positions made up $63.19 million (82.67%).
OKX saw approximately $31.13 million (11.86%) in liquidations, with long positions at 82.47%. Gate.io and HTX also experienced liquidations of $28.09 million and $12.55 million respectively, with both exchanges showing over 94% long position liquidations.
Notably, BitFinex differed from other exchanges, with almost equal liquidation ratios for long and short positions.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $203.62 million in Bitcoin positions were liquidated in 24 hours, with long positions at $141.28 million and short positions at $62.34 million. In the 4-hour timeframe, about $87.54 million in Bitcoin liquidations occurred.
Ethereum (ETH) saw approximately $167.64 million in positions liquidated over 24 hours, with long positions at $112.17 million and short positions at $55.47 million. In the 4-hour timeframe, about $61.43 million was liquidated.
Among major altcoins, XRP recorded about $30.79 million in liquidations over 24 hours, interestingly showing a 6.70% price increase. Doge saw approximately $29.48 million in liquidations over 24 hours.
The political Token TRUMP experienced about $8.50 million in liquidations over 24 hours, accompanied by a 7.81% price drop, with about $3.25 million liquidated in the 4-hour timeframe.
Notably, the WIF (Dogwifhat) Token saw a sharp 26.28% price increase over 24 hours, with approximately $9.51 million in liquidations. The 1000PEI Token also underwent substantial liquidations of around $13.37 million over 24 hours.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leveraged position when a trader fails to meet margin requirements. This large-scale liquidation reflects the recent high volatility in the cryptocurrency market, with long position liquidations particularly concentrated in Bitcoin and Ethereum, requiring caution from market participants.
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