Crypto longs eat $744M of an $803M wipeout in four hours

The bloodletting ran for four hours and ended at 6:53 p.m. ET Sunday, or 23:53 UTC. By the time it stopped, $803 million in crypto positions had been forced closed, per tokenpost.com. Long positions did the bleeding: $744 million of the total, against just $59.77 million on the short side.

The split was brutal. Long liquidations came in at roughly 12.5 times the short figure, a gap of about $684 million between the two. Measured against the whole market, longs made up around 93% of everything liquidated in the window, meaning traders positioned for upside were the ones getting shown the door.

Ether led the carnage. ETH liquidations hit $358 million, while Bitcoin logged $233 million. Together the two assets made up $591 million, or about 74% of the reported total, with Ether outrunning Bitcoin by $125 million. That works out to roughly 45% of the overall tally for ETH and 29% for BTC.

A liquidation happens when a leveraged position moves far enough against the trader that the exchange closes it out to cover the debt. When those closures cluster, they can pile onto the selling and drag prices further, which is what makes a stretch like this one notable: the pain was concentrated, not scattered.

The rest of the market still felt it. The four-hour numbers show liquidations spread well beyond the two headline assets, even with ETH and BTC swallowing nearly three-quarters of the total. The remaining slice, about 26%, landed across other coins and tokens caught in the same squeeze.