In the past 24 hours, total liquidations across the network reached $679 million, with long positions dominating the liquidations.

Crypto liquidations totaled $679 million across exchanges in the past 24 hours, affecting 130,290 traders, with long positions accounting for $526 million (77.5%) and shorts $153 million (22.5%), according to CoinGlass. Bitcoin liquidations reached about $208 million, 62.1% from longs, while Ethereum saw $91.25 million, 74.9% from longs, and other tokens contributed $93.79 million, 85.4% from longs. The largest single liquidation was a $5.66 million BTC-USDT-SWAP position on OKX, and Binance accounted for 47.2% of total liquidation value. The long-heavy skew signals that leveraged bullish positioning was caught offside in a sharp downside move, amplifying spot market selling. Traders will watch whether funding rates reset and open interest stabilizes, or whether further long unwinding sustains volatility across BTC, ETH and altcoins.