Over the past 24 hours, $196 million worth of crypto futures positions were liquidated across the market.
According to CoinGlass, $128 million in long positions and $67.5703 million in short positions were liquidated. BTC accounted for $53.1692 million and ETH for $48.3614 million. The largest single liquidation was $6.9662 million on Binance’s ETHUSDT pair.
But what’s really worth noting is that the side getting squeezed has changed. Using CoinGlass’s rolling 24-hour figures, the market saw just $109 million in liquidations in the previous 24-hour window: $63.43 million in shorts and $45.5 million in longs. Shorts were the ones getting wiped out that day. This time, liquidations of long positions came close to twice those of shorts.
Shorts got liquidated yesterday, and longs got liquidated today. Leverage is squeezing both sides back and forth. There’s no clear direction—just forced closures.
So I’m not inclined to read these $196 million in liquidations as a huge win for bears. They’re more like a gauge of leverage stress: liquidations jumped from $109 million to $196 million in less than a day, an increase of nearly 80%. That suggests leveraged money has rushed back in.
With longs getting slaughtered this time around, do you see this as the start of a trend reversal or the middle of a leverage washout? Pick a side in the comments 🔥
#加密市场观察 #BTC $BTC
According to CoinGlass, $128 million in long positions and $67.5703 million in short positions were liquidated. BTC accounted for $53.1692 million and ETH for $48.3614 million. The largest single liquidation was $6.9662 million on Binance’s ETHUSDT pair.
But what’s really worth noting is that the side getting squeezed has changed. Using CoinGlass’s rolling 24-hour figures, the market saw just $109 million in liquidations in the previous 24-hour window: $63.43 million in shorts and $45.5 million in longs. Shorts were the ones getting wiped out that day. This time, liquidations of long positions came close to twice those of shorts.
Shorts got liquidated yesterday, and longs got liquidated today. Leverage is squeezing both sides back and forth. There’s no clear direction—just forced closures.
So I’m not inclined to read these $196 million in liquidations as a huge win for bears. They’re more like a gauge of leverage stress: liquidations jumped from $109 million to $196 million in less than a day, an increase of nearly 80%. That suggests leveraged money has rushed back in.
With longs getting slaughtered this time around, do you see this as the start of a trend reversal or the middle of a leverage washout? Pick a side in the comments 🔥
#加密市场观察 #BTC $BTC