Crypto derivatives positions worth $2.99 billion were forcibly closed over 24 hours, affecting 170,001 traders. The liquidation event was dominated by short positions, with 91.6% of reported liquidations being shorts, and long liquidations making up less than one-tenth of the total. According to data from Coinglass, Bitcoin accounted for $1.42 billion in liquidations and Ethereum for $1.13 billion, together making up roughly 85% of the reported total.
Liquidation Breakdown
The $2.99 billion figure covers a full day, with the most recent four-hour window showing $29.12 million in liquidations, less than 1% of the 24-hour total. The last hour recorded $3.61 million, led by long liquidations, unlike the 24-hour total.
Market Context
The liquidation burst developed after the US Treasury announced larger long-bond buyback limits, a decision that coincided with falling yields and gains across major crypto assets. However, the available data cannot separate the effect of the Treasury news from broader risk appetite, momentum and derivatives positioning already present after weeks of sideways trading.
