Overnight Replay: In the past 24 hours, liquidations across the entire web totaled $594 million, with 107,089 positions wiped to zero.

BTC liquidated $217 million (long/short 33/67), ETH liquidated $149 million (long/short 52/48). These two coins account for 62% of the entire market.

There’s also an easily overlooked figure: SAND saw 9,292 liquidation trades—close to BTC’s 10,737 trades—but the amount was only one eighteenth of BTC’s. Average per trade: $1,328 for SAND, versus $20,238 for BTC.

That kind of order book is packed with small-sized, high-leverage positions. One needle drop can trigger a chain reaction and clear a large number at once. The trade count looks terrifying, but in reality it’s the density of retail traders amplified by leverage—not big capital making moves.

The single-worst liquidation: Binance BTCUSDT short position, $11.81 million, cleared in one go.

Full heatmap and long/short structure: coinboss.com/liquidations

Data is based on exchange-disclosed execution records and does not constitute investment advice. Contract risk is extremely high—please manage your position size responsibly.

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