Bottom line: liquidations totaled about $50.66 million over the past four hours. Binance accounted for 32.1%, but Hyperliquid took the bigger hit, with about $10.65 million in long liquidations, leaving bears with almost no room to catch their breath.

Binance saw $16.27 million in liquidations, Hyperliquid $11.59 million, and OKX $9.98 million. The top three accounted for about 75% of the total. Long liquidations made up 92% of Hyperliquid’s total, suggesting this sell-off first hit traders chasing longs. Binance, by contrast, saw both longs and shorts liquidated, so the market isn’t being squeezed in just one direction.

If you chased the rebound in $BTC or $ETH, don’t focus on just one platform’s figures before the market opens. Liquidations have spread from an isolated exchange incident across multiple platforms. It’s best to reduce leveraged positions for now and wait for the trend to stabilize before jumping back in.

Do you think longs will be liquidated first in the next hour, or will shorts start covering?

View live: https://www.coinboss.com/liquidations