Over the past 24 hours, approximately $160 million (about 216 billion won) worth of leverage positions were liquidated in the cryptocurrency market.
According to the currently compiled data, this liquidation showed a somewhat unusual ratio between long and short positions. In particular, a high proportion of short position liquidations was observed on major exchanges.
Binance experienced the most position liquidations over the past 4 hours, with a total of $3.77 million (50.9%) liquidated. Among this, short positions accounted for $2.29 million, representing 60.7%, which showed a different pattern from the typical long position liquidations during market downturns.
Bybit was the second exchange with the most liquidations, with $2.25 million (30.38%) of positions liquidated, where short positions also dominated at $1.46 million (64.97%).
Gate exchange saw approximately $697,000 (9.42%) in liquidations, with long positions slightly higher at 56.83%. OKX experienced about $412,000 (5.57%) in liquidations, with short positions prevailing at 57.38%.
Notably, on Hyperliquid exchange, the short position liquidation rate was overwhelmingly high at 96.96%.
By coin, Bitcoin (BTC) had the most liquidated positions. Approximately $113.16 million in Bitcoin positions were liquidated in 24 hours, with short position liquidations at $101.83 million, nearly 9 times higher than long positions ($11.33 million).
Ethereum (ETH) saw about $29.39 million in liquidated positions in 24 hours, with long positions at $20.31 million, higher than short positions ($9.09 million).
Solana (SOL) had approximately $6.63 million liquidated in 24 hours, followed by XRP ($5.43 million) and SUI ($1.76 million) among other major altcoins.
Doge also experienced about $2.5 million in liquidations over 24 hours, with a slight price drop (-0.07%).
Notably, the FARTCO Token saw $1.97 million in liquidations despite a 6.05% price increase, with significant liquidations in both long and short positions. Meme tokens like 1000PEI and WIF also experienced liquidations of $1.35 million and $1.74 million respectively.
This liquidation data shows an unusual high proportion of short position liquidations compared to typical market conditions, which could indicate the market's stronger resilience or a short-term rebound signal. Traders need to be more cautious in managing leverage positions in the current high-volatility market.
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