$146M in Crypto Long Positions Liquidated in 24-Hour Market Selloff
The crypto derivatives market has dealt a significant blow to leveraged bulls, forcing the closure of $146M in long positions within a 24-hour window.
BTC and ETH dominated the liquidation leaderboard, accounting for the lion's share of the damage, with perpetual futures contracts being the instrument of choice for traders looking to amplify their bets on rising prices.
The liquidations hit hardest on centralized exchanges like Binance, Bybit, and OKX, as well as decentralized platforms like Hyperliquid, which has carved out a growing share of derivatives volume.
This is not an isolated event, with the crypto market experiencing multiple waves of forced liquidations throughout 2026, including prior episodes tied to price swings in Bitcoin and Ethereum.