Crypto Liquidations Hit $486 Million in One Hour, Led by Longs

Crypto traders absorbed $486 million in liquidations across the market over one hour, with long positions making up nearly all of the total as leveraged bets were forced closed. Long liquidations totaled $465 million, compared with $20.7 million for shorts. That puts long positions at about 96% of the marketwide figure and short positions at about 4%. The long-side total exceeded the short-side amount by $444.3 million. Ether (ETH) liquidations reached $201 million, while Bitcoin (BTC) liquidations totaled $117 million. Together, those two assets accounted for $318 million, or about 65% of the $486 million marketwide total.

Source: TokenPost