Longs absorb $642M wipeout as Binance, Bybit and OKX liquidations hit $717.8M

Shorts walked away nearly untouched. Of the $717.8 million liquidated across Binance, Bybit and OKX in the 24 hours through 8:01 a.m. ET on Nov. 9, $642.2 million came out of long positions, leaving just $75.6 million on the short side.

The broad tape was ugly too. Total crypto market capitalization sat at $2.49 trillion, down 4.32% over the same window, with marketwide trading volume at $76.20 billion. An earlier snapshot taken at 12:01 a.m. ET had put capitalization at the identical $2.49 trillion.

Bitcoin took the lightest punch among the majors. BTC traded at $74,922, a 1.42% decline over 24 hours — a smaller percentage drop than the other five major assets in the morning snapshot — while still accounting for 60.2% of total crypto market value.

Ether and XRP led the damage. ETH fell by 5.22%, now at $2,123, and XRP lost 5.13%, now at $1.10, the two steepest declines among the six largest assets. Ether made up 10.4% of total market value. BNB slipped by 1.80%, now at $686.78, Solana shed 3.30%, now at $86.61, and Dogecoin gave up 2.05%, now at $0.0698.

Not everything bled. Among the top 39 crypto assets, Arbitrum (ARB) climbed 10.27% for the strongest performance in that group, while Aster (ASTER) dropped 5.41% to post the weakest.