Over 173,000 Crypto Traders Liquidated in 24 Hours as $2.98 Billion Lost

In a dramatic shift in the cryptocurrency market, over 173,000 traders were liquidated in a single day, resulting in approximately $2.98 billion in losses. The majority of these liquidations affected short sellers, who faced significant losses as the market rallied unexpectedly. Data from CoinGlass indicates that around $2.74 billion of the total losses stemmed from bearish positions, while long positions accounted for about $242 million.

The scale of the liquidations is notable, with short positions making up roughly 92% of the total liquidated value. The largest single liquidation was a $48.80 million position in Bitcoin on the decentralized exchange Hyperliquid. Centralized exchanges also experienced significant liquidations, with Binance reporting $16.44 million, followed by OKX at $6.17 million and Gate.io at $3.90 million during a recent four-hour snapshot.

This recent surge in liquidations marks a stark increase from the previous day, which saw around 63,222 traders liquidated for approximately $196 million. The jump from $196 million to nearly $3 billion in just one day represents a 15-fold increase in liquidation volume, highlighting the volatility and risks associated with leveraged trading in the cryptocurrency market. While this event is significant, it does not surpass the all-time record for liquidations, which occurred on October 10, 2025, when about $19.16 billion was wiped out.

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Source: KLEA News