BTC moves end up liquidating $1.7 billion in bullish crypto bets
The crypto market unraveled hard over the past 24 hours, triggering $1.68 billion in liquidations as leveraged bets were wiped out across major exchanges, according to CoinGlass data.
Roughly 267,370 traders were forced out of positions, with longs accounting for an overwhelming $1.56 billion, or nearly 93% of total liquidations.
Shorts made up just $118 million, indicative of how one-sided positioning had become before the move lower.
Bitcoin and ether led the damage. BTC alone saw about $780 million in liquidations, while ETH followed with more than $414 million, per liquidation heatmap data. The largest single hit was a $80.57 million BTC-USDT position on HTX, a reminder that even deep liquidity doesn’t protect oversized leverage…
