Bitcoin and Ethereum Lead $141M Crypto Futures Liquidations

Crypto futures liquidations have reached $141 million in the past 24 hours, with Bitcoin and Ethereum leading the pack. According to recent data, Bitcoin accounted for $82.31 million of these liquidations, while Ethereum contributed $59.08 million.

The figures highlight a market where leveraged positions are being squeezed, with a significant share of the activity driven by short sellers. In fact, 52.33% of the liquidated Bitcoin positions were shorts, indicating that both long and short traders faced pressure.

Ethereum saw a more pronounced imbalance, with 63.55% of its $59.08 million in liquidations coming from short positions. This suggests that the price of Ethereum moved upward, forcing traders who had bet on a price decline to exit their positions.