Crypto liquidations reached $934.24 million in a 24-hour period, wiping out approximately 167,400 leveraged trading accounts.

Bitcoin liquidations accounted for $363 million of the total, while Ethereum saw $240 million in closed positions. The largest single liquidation—a $15.34 million Bitcoin long position—closed on decentralized exchange Hyperliquid.

The liquidation cascade skewed heavily toward long positions, with 93% of closed accounts betting on price recovery. This concentration of losses among leveraged longs suggests rapid deleveraging across the broader market as traders reduced exposure to risk. The concentrated losses in BTC and ETH reflect their dominance in leveraged trading markets.

The sharp uptick in liquidations underscores the volatility currently gripping crypto markets. Traders holding leveraged long positions faced cascading margin calls as asset prices declined, forcing automated liquidations across major trading venues. CoinGlass data tracked the real-time liquidation activity across exchanges during the event.

Sources: CoinGlass