TokenPost.ai
Crypto derivatives traders were hit by a sharp wave of forced deleveraging over the past day, with roughly $5.78 billion in leveraged positions liquidated across major tokens—an outsized flush that underscores how quickly risk can unwind when volatility returns.
Data compiled by CoinGlass shows long liquidations totaled about $3.34 billion, accounting for 57.8% of the 24-hour wipeout, while short liquidations reached roughly $2.44 billion, or 42.2%. While the broader day skewed toward long liquidations, the most recent four-hour window told a different story: shorts were closed out more aggressively, suggesting a short-term rebound pushed bearish positioning offside.
In the latest four hours, total liquidations across tracked venues came in at around $18.13 million, with shorts making up $12.75 million—70.35% of the total. Binance led the exchange breakdown with approximately $7.38 million in liquidations (40.69% share), where shorts represented $4.12 million, or 55.9% of Binance’s total. Hyperliquid followed with about $5.54 million, standing out for an extreme short skew: 99.89% of its liquidations were short positions. OKX recorded roughly $1.75 million, and was an exception among major venues, with long liquidations slightly dominant at 55.68%. Bybit ($1.24 million), Bitget (about $968,860), and Gate (about $844,980) rounded out the next tier. CoinEx posted liquidations entirely on the short side, while “Lighter” also showed a heavy short bias at 98.07%, consistent with broad short-covering during a quick intraday bounce.
By asset, XRP (XRP) saw the largest 24-hour liquidation total at roughly $2.34 billion, despite a comparatively modest 0.47% price increase on the day. CoinGlass data indicates both sides were heavily positioned, with about $1.25 billion in long liquidations and $1.09 billion in short liquidations—evidence of unusually concentrated leverage around the token. Ethereum (ETH) posted the second-largest liquidation figure at about $1.02 billion, alongside a 0.67% gain. Bitcoin (BTC) saw a comparatively smaller $83.95 million liquidated while rising 1.50% over the same period.
The mix—prices edging higher while sizable positions on both sides were forcibly closed—signals an environment where leverage, rather than direction, is driving near-term market structure. Even where short liquidations accumulated amid upward drift, meaningful long liquidations across the full 24-hour window point to choppy, two-way trading conditions and heightened sensitivity to rapid price swings.