According to real-time liquidation data, the carnage was distributed across multiple timeframes, with the 24-hour period showing unprecedented stress in leveraged trading positions. The largest single liquidation order—a staggering $21.42 million BTC-USD position on Hyperliquid—exemplifies the scale of capital destruction during this volatile period.
The cryptocurrency derivatives market experienced severe turbulence over the past 24 hours, with total liquidations reaching $1.24 billion and affecting 243,117 traders globally. The mass liquidation event swept across major digital assets, with Bitcoin and Ethereum bearing the brunt of forced position closures.
Ethereum followed as the second-most liquidated asset with $273.43 million in forced closures, while Solana experienced $88.68 million in liquidations. The “Others” category, encompassing numerous altcoins including DOGE, XRP, PUMP, ENA, ASTER, BNB, ZE, ADA, TAO, FARTCOIN, XPL, AVAX, WLD, JELLY, 1000, SUI, COAT, PERF, and various smaller tokens, collectively accounted for $98.07 million in liquidations.
The temporal distribution of liquidations reveals accelerating volatility throughout the day. The 1-hour window showed $148.61 million in liquidations, expanding to $241.04 million over 4 hours, then surging to $610.69 million across 12 hours before reaching the full 24-hour total of $1.24 billion.
Notably, long positions bore the overwhelming majority of liquidations across all timeframes, suggesting a sharp downward price movement caught overleveraged bulls off-guard.
In the 24-hour period, longs accounted for $1.10 billion (88.6%) of liquidations compared to just $140.76 million (11.4%) in short liquidations.
