Crypto Liquidations Reach $45.7 Million as Shorts Account for 69%

Crypto liquidations reached $45.7 million over the 24 hours ending at 8:04 p.m. ET on Oct. 10 (00:04 UTC on Oct. 11), with short positions responsible for most of the forced closures across 27,677 orders. Short liquidations totaled $31.4 million, or 69% of the total, while long liquidations reached $14.4 million. A liquidation occurs when an exchange forcibly closes a leveraged position after a trader can no longer meet margin requirements. Binance recorded $35.4 million in liquidations during the period. OKX followed with $7.2 million, while Bybit recorded $3.2 million.

Source: TokenPost