Crypto traders faced $1.49 billion in forced liquidations over 24 hours, with bullish positions taking the heaviest losses. Long bets accounted for $1.29 billion, or 86.8% of the total, while short sellers absorbed $197.08 million across 243,456 trader accounts.
Bitcoin long positions led the damage at $475.19 million, representing 87.6% of Bitcoin's total liquidations. Ethereum followed with $330.59 million in liquidations, of which 84.7% came from long positions. Solana and XRP contributed $82.50 million and $37.56 million respectively, while smaller tokens added $178.72 million.
The liquidations corresponded with broad price declines across major cryptocurrencies. Bitcoin dropped 4.67% to $77,111 in 24 hours, Ethereum fell 5.40% to $2,218, Solana lost 6.94% to $94.38, and XRP slid 7.54% to $1.22. Over a 12-hour window, liquidations reached $1.33 billion, approximately 90% of the daily total.
The sell-off extended beyond crypto markets. Traditional assets tracking silver and SanDisk contracts recorded $15.23 million and $16.06 million in liquidations respectively.
Not all tokens declined. Hyperliquid rose 12.74% to $90.37 over the 24-hour period, with its $30.86 million in liquidations stemming primarily from short sellers. TRON also climbed 9.34% to $0.3601 against the broader market downturn.
Binance announced a review of a potential security issue during the liquidation wave. The exchange pledged to cover all losses and paused deposits and withdrawals as a precaution. BeInCrypto noted that price declines had begun before initial wallet alerts surfaced, leaving any direct connection between the two events unproven.
