Crypto Long Positions Hit $31.62 Million in One-Hour Liquidation Spike

Crypto liquidations reached $32.28 million in one hour on September 27th at 10:02 p.m. ET, marking a significant spike in the market. The majority of these liquidations were long positions, accounting for 98% of the total with a value of $31.62 million.

The three exchanges that reported liquidations are Binance, Bybit, and OKX, with Binance recording the highest number at $21.73 million. Ether (ETH) and Bitcoin (BTC) were among the top-liquidated assets, with figures reaching $10.27 million and $10.06 million respectively.

The data collected from these exchanges' publicly available liquidation records suggests that this spike in liquidations is not representative of the entire crypto market. The exact reasons behind this increase are unclear, but it may be worth monitoring for potential market shifts.