The takeaway first: over the past 4 hours, the market saw $29.66 million in liquidations, with shorts accounting for 64%. Binance alone made up 42%—those chasing the drop were the first to get wiped out.
Binance saw $12.44 million in liquidations across 5,117 trades, about 42% of the market-wide total; OKX recorded $7.16 million, and Bybit $4.52 million. Binance led in total value, but the average liquidation was about $2,432, suggesting this wave mostly forced out a large number of small positions.
Hyperliquid saw only $200,000 in liquidations, but 94% came from shorts—a more extreme directional skew than the overall market. Shorts still holding on shouldn’t look only at the market-wide total: liquidation directions have already diverged across exchanges.
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Will this short squeeze continue, or are the bulls ready to take over?
View live: https://www.coinboss.com/liquidations