$146M in long positions liquidated from crypto market in 24 hours

The crypto derivatives market just handed leveraged bulls an expensive lesson. Roughly $146M in long positions were forcibly closed across the market in a single 24-hour window, with Bitcoin and Ethereum accounting for the lion’s share of the damage. The liquidations hit hardest on perpetual futures contracts, the instrument of choice for traders looking to amplify their bets on rising prices. Where the pain concentrated Binance, Bybit, and OKX bore the brunt of the liquidation activity on the centralized exchange side. Hyperliquid, the decentralized perpetuals platform that has carved out a growing share of derivatives volume, also saw significant forced closures. The $146M figure, while striking, likely understates the actual total. Aggregator platforms like CoinGlass are known to produce conservative estimates because not every exchange reports complete liquidation data. Live trackers monitoring the broader picture suggested total liquidations, including both longs and shorts, may have ranged between $200M and $300M during the same period. BTC and ETH dominated the liquidation leaderboard, which makes sense given that these two assets attract the deepest pools of leveraged tradi...