Crypto Liquidations Reach $335.5 Million as Longs Take 84%

Crypto markets logged $335.5 million in forced liquidations over the 24 hours ending Saturday evening, with long positions accounting for 84% of losses in a sharp reversal from the previous snapshot. The tally covered 63,111 orders through 8:06 p.m. ET Saturday, Oct. 24 (00:06 UTC Sunday). Long positions lost $283 million, compared with $52.5 million for shorts. A liquidation is an exchange’s forced closure of a leveraged position when a trader can no longer meet margin requirements. The previous 24-hour liquidation snapshot totaled $70.71 million, with short liquidations at $38.39 million and long liquidations at $32.32 million.

Also reported by Coinotag.

Source: TokenPost