Crypto Markets See $514M Liquidated as Longs Take the Hit
Crypto markets experienced one of the largest leverage resets in weeks, with over $514 million in positions liquidated over the past 24 hours following a sharp intraday swing.
Long positions accounted for $376 million—nearly three times the $138 million in short liquidations—highlighting traders’ heavy bullish positioning before the reversal. More than 155,000 traders were liquidated, including a single $23.18 million BTC perpetual on Hyperliquid.
Exchanges Most Affected
- Binance: $144.6M liquidated, 76% long
- Hyperliquid: $115.8M, 83% long
- Bybit: $109.3M, 72% long
Together, these three exchanges represented roughly 72% of all forced unwinds.
The liquidation reflects an increasingly one-sided market after Bitcoin’s recent rebound, with traders overexposed to upside bets amid patchy liquidity across BTC and major altcoins.
Prior sessions of rising open interest and elevated funding rates set the stage for the sharp reset. Liquidation cascades amplify volatility by forcing underwater positions to close at market prices, intensifying sell pressure during declines.
Analysts note that long-side flushes can also serve as healthy market-clearing events, removing excess leverage and helping stabilize prices if key technical support levels hold.
