Crypto Futures Liquidations Cross $243 Million as Bitcoin and Ethereum Long Traders Face Heavy Losses

The cryptocurrency market experienced a wave of liquidations totaling $243.15 million over the past 24 hours, driven by sharp volatility and aggressive unwinding of leveraged positions. According to CoinGlass, 91,568 traders were liquidated, with long traders—betting on rising prices—accounting for $182.35 million of the total, or 75% of all liquidations. Bitcoin and Ethereum led the losses, with $58.96 million and $57.65 million in liquidations, respectively, while Solana saw $10.60 million wiped out. Other affected tokens included SAGA, XRP, and Zcash, with liquidations ranging from $4.96 million to $8.69 million. Binance reported the highest liquidation volume at $106.18 million, nearly 44% of the total, followed by Bybit with $34.10 million and Hyperliquid with $32.50 million. Gate.io and OKX also saw significant losses, totaling $21.40 million and $20.74 million, respectively. The largest single liquidation order occurred on Binance’s ETHUSDT pair, amounting to $2.71 million. Market analysts noted that such liquidation cascades typically follow periods of excessive leverage, positive sentiment, and rising open interest. In the 12 hours prior, liquidations totaled $53.31 million, with long traders losing $14.33 million, while a $18.72 million wipeout occurred in a four-hour window. Hyperliquid and Gate.io saw over 83% of liquidations on long positions, reflecting traders’ prior bullish bets. The surge in liquidations added downward pressure on perpetual futures markets, exacerbating volatility. The trend underscores the risks of leveraged trading in crypto, where rapid price shifts can trigger mass wipeouts across major exchanges.