In the past 24 hours, approximately $970 million (about 1.4 trillion won) worth of leveraged positions were liquidated in the cryptocurrency market.
According to the currently aggregated data, short positions accounted for $890 million, which is 92% of the total liquidations, while long positions were $80 million, representing 8%.
Bybit had the most position liquidations in the past 4 hours, with a total of $22.19 million (32.28% of the total) liquidated. Among these, short positions accounted for $17.67 million or 79.64%.
Binance was the second-highest exchange with $21.13 million (30.72%) of positions liquidated, with short positions making up $12.70 million (60.08%).
Gate saw approximately $10.50 million (15.27%) in liquidations, with short positions at 67.83%.
Notably, short position liquidations overwhelmingly dominated across all major exchanges, with BitMEX showing the highest short position liquidation rate at 89.58%.
BTC-related positions were the most liquidated. Approximately $678.38 million in BTC positions were liquidated in 24 hours, with most, $654.78 million, being short positions. In the 4-hour timeframe, about $22.31 million in BTC liquidations occurred, with 89.15% being short positions.
ETH saw about $258.61 million in positions liquidated in 24 hours, with $215.03 million being short positions. In the 4-hour timeframe, approximately $14.83 million was liquidated, with 52.73% being short positions.
SOL had about $24.56 million liquidated in 24 hours, with $20 million being short positions. Among other major altcoins, XRP ($22.59 million) and Doge ($13.17 million) saw significant liquidations.
The Trump-related Token also saw about $3.17 million in liquidations in the past 24 hours, with $2.38 million being short positions. Its price rose by +9.39% in 24 hours.
The ENA Token, in particular, showed a sharp price increase of +23.92% in 24 hours, with approximately $5.18 million in position liquidations. ADA also experienced a significant price increase of +16.58% with about $4.83 million in liquidations.
In the cryptocurrency market, 'liquidation' refers to the forced closure of a leveraged position when a trader fails to meet margin requirements. This large-scale short position liquidation suggests that many investors were anticipating a market downturn.
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