$150M Crypto Liquidations Hit Longs Hard

The cryptocurrency derivatives market experienced a sharp correction over the past 24 hours, resulting in total futures liquidations exceeding $150 million.

Data from major exchanges shows that Bitcoin (BTC), Ethereum (ETH), and HYPE perpetual contracts saw significant activity, with long positions accounting for the majority of liquidated trades.

The breakdown reveals that BTC futures recorded $94.36 million in liquidations, with 95.41% being long positions. ETH followed with $49.31 million liquidated, 89.47% of which were also longs.

This indicates that many traders were caught off guard by a sudden price drop, forcing leveraged long positions to be closed automatically.