Crypto Traders Face $38.76 Million in Liquidations in One Hour

Crypto traders experienced a significant amount of liquidations in one hour on Friday, with a total of $38.76 million in positions being closed. This figure is based on publicly available liquidation data from three exchanges: Binance, Bybit, and OKX. Long positions made up about 95% of the total liquidations, with $36.78 million in long positions and $1.98 million in short positions being closed.

The largest exchange, Binance, accounted for $21.21 million of the total liquidations, followed by OKX with $14.55 million and Bybit with $3 million. Bitcoin (BTC) was the asset with the most liquidations, totaling $13.98 million, followed by Ether (ETH) at $12.97 million and Solana (SOL) at $2.55 million.

The hour of liquidations ended at 10:56 a.m. ET (14:56 UTC) on Friday, and it is not clear what triggered this significant movement in the market.