Here's the bottom line: $596 million in liquidations over 24 hours, with longs taking 89.3% of the hit. Binance ranked first but accounted for only 40%, so leverage wasn't concentrated in one place.
Binance saw $236 million in liquidations, or 39.7%; OKX $125 million, or 21.0%; and Hyperliquid $83.61 million, or 14.0%. The top three platforms accounted for about 70% combined, with all the leading platforms seeing leverage wiped out.
Long positions took the hit first this time, but that doesn't mean prices will reverse immediately. The key is whether long liquidations continue to grow. Do you think the leverage flush is nearing its end?
View in real time: https://www.coinboss.com/liquidations