Longs already paid their tuition. In the past 24 hours, the total liquidations across the whole network were $621 million, of which $521 million was on the long side, accounting for 84%. In other words, for every 10 liquidation events, 8 were from chasing longs.
BTC is currently around $84,300, down 2.5% over the day, retreating nearly $3,000 from the $87,247 high. On the liquidation leaderboard, BTC has $183 million and ETH has $150 million—together they make up more than half of the total across the network.
The second number looks at the order count: 128,000 trades, averaging around $4,800 per trade. This density suggests that not only big holders were liquidated; leveraged retail traders also didn’t get away.
The third number is the funding rate. The BTC funding rate for an eight-hour period has dropped back to around 0.004%, meaning longs aren’t as overcrowded anymore. If the price holds steady and funding stays calm, a rebound would be healthier; but if it dips further, a leveraged asset like SOL—where 91% of liquidations came from long positions—will have to pay another round of tuition.
Do you think this long-side move has finished after the shakeout?
Check in real time: https://www.coinboss.com/liquidations