Conclusion first: in the past hour, the entire market saw $97.0 million in liquidations. Binance accounted for $48.0 million of it; about 90% of that was long positions—chasing longs are the first to get cut.
Binance had 2,173 liquidation trades, with an amount of $4.796 million, accounting for about 49% of the whole market. Longs made up 91%. OKX ranks second with $3.057 million in liquidations, but the long ratio is only 77%, so the damage on both sides is headed in different directions.
Bybit, Bitget, and Gate total 1.538 million, far lower than the first two. Hyperliquid has only 47,000 for now, with no signs of large holders concentratedly liquidating.
This round looks more like a centralized cleanup after Binance longs got crowded, and it doesn’t mean the decline is already over. Next, if the short positions’ amount quickly spikes upward, that would indicate the market has begun to counterattack and squeeze the people chasing the selloff.
Is this hour all about cleaning the market, or are you waiting for the shorts to take over?
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View in real time: https://www.coinboss.com/liquidations