Crypto liquidations hit up to $133M in 24 hours as Ethereum leads losses
In brief
- Total liquidations, longs and shorts combined, reached $117 million to $133 million on October 25-26.
- Long positions accounted for about 70% to 80% of the total.
- Ethereum led losses, with $39 million to $54 million liquidated.
- Binance handled 50% to 66% of liquidation volume.
- No catalyst was identified; liquidations came alongside minor price declines.
How big was the long flush?
Figures circulating on X put long liquidations at roughly $117 million over a 24-hour window. That number doesn't line up neatly with the broader futures data, though. With longs at 70% to 80% of a $117 million to $133 million total, it works out to approximately $80 million to $106 million in bullish bets forcibly closed (depending on which tally you use).
Most of it happened in perpetual futures, derivative contracts with no expiry date. Binance processed the biggest slice, about 50% to 66% of total liquidation volume, or $73 million or more by some counts. Bybit and Gate also recorded meaningful activity.
The publication said the spread across several venues pointed to a market-wide deleveraging rather than a problem at any one platform.
ETH took the hardest hit
Liquidated ETH positions ranged from $39 million to $54 million during the period. Bitcoin came second, with $22 million to $32 million in BTC positions liquidated, while Solana and other altcoins accounted for smaller amounts. The single largest liquidation was an estimated $7 million ETH long on Binance.
No catalyst, just leverage
There wasn't an exchange collapse, a regulatory action or a hack behind the move.
The liquidations came alongside minor price declines, and that's about it. Nobody's been singled out either.
No single entity, exchange, or individual has been identified as responsible for the elevated totals.
Crypto Briefing said the skew toward longs suggested many traders were positioned for upside and had little room for a pullback. It's also a small event by recent standards: earlier episodes saw liquidations reach several hundred million dollars, or more than $1 billion during major market moves.
