Crypto Liquidation Blowout Surpasses Half Billion Dollars

Crypto liquidations reached $486 million in a 24-hour period, marking one of the largest episodes of selling pressure on the market. The bulk of these losses came from long positions, with $392 million in liquidations compared to just $93.7634 million for short positions.

The impact was felt across various assets, with Bitcoin (BTC) contracts recording $107 million in liquidations and Ether (ETH) contracts totaling $74.2889 million. Notably, the largest single liquidation occurred on Binance's ETHUSDT market, valued at $11.8216 million.