Long Traders Wiped Out as $1.23B in Crypto Liquidations Hit in 24 Hours

Crypto traders spent the last 24 hours getting steamrolled. Total liquidations across the market hit $1.23 billion, and long positions did almost all the bleeding — $1.09 billion of the damage, according to tokenpost. Shorts accounted for just $144 million.

That gap is brutal for anyone who bet on higher prices. The long-side tally ran about 7.6 times the short-side figure, a difference of roughly $945 million. Put another way, longs made up about 88% of all forced closures, while shorts took about 12%.

Bitcoin and Ether carried the weight. BTC positions saw $677 million liquidated, and ETH followed with $191 million. Together that's $868 million, or about 70% of the entire tally. Bitcoin alone was roughly 55% of all liquidations; Ether added about 15%.

One trade stood out from the wreckage: a single BTC-USD position on Hyperliquid worth $31.1 million. That one liquidation alone made up about 2.5% of the market-wide total for the day.