Volume in shorts dominates liquidations of $647 million in 24 hours

In the past 24 hours, the cryptocurrency market experienced a significant wave of liquidations. According to data from Coinglass reported by ChainCatcher, the volume of shorts reached notable levels during this period, reflecting the ongoing volatility faced by traders in the derivatives market.

Nearly Balanced Division Between Longs and Shorts

The total liquidation volume reached $647 million, with an almost symmetrical distribution between buy and sell positions. Long positions incurred losses of $305 million, while the shorts volume liquidated was $342 million, showing a slight advantage for the sell side. The just $37 million difference between the two highlights the fragile market balance, with both sides under simultaneous pressure.

Bitcoin and Ethereum Lead the Liquidations

Among the main cryptocurrencies, Bitcoin led the movement. BTC long positions suffered $130 million in liquidations, while the volume of shorts for the largest cryptocurrency reached $168 million. Ethereum was not far behind, with long positions liquidated at $76.1 million and shorts at $86.2 million, maintaining the trend of simultaneous pressure in both directions.

Record Number of People Affected by Volatility

This episode was marked by the massive number of participants impacted: 158,564 traders were liquidated globally within the 24-hour period. The most significant operation occurred on the BTCUSDT pair on the Aster platform, where a single position of $11.17 million was liquidated, signaling the magnitude of movements and the concentrated risk in certain trades during periods of high volatility.