Crypto liquidations hit $12.5 billion in October 2026 as longs take the beating

Crypto liquidations totaled $12.5 billion in October 2026, with long positions bearing the brunt of the forced unwinding as leveraged traders were swept out during the month's price declines. The scale of the event underscores the fragility of leveraged positioning across major venues, where cascading liquidations can amplify volatility and drain trader confidence. The article, published via Crypto Briefing, offers limited detail on specific protocols, chains, or tokens, so the precise distribution of losses across Bitcoin, Ethereum, and altcoin perpetual futures remains unclear. Still, the magnitude places the episode among the larger liquidation events of the cycle, with longs disproportionately hit, a typical signature of a sharp downward repricing. Market participants should watch funding rates, open interest rebuilds, and whether spot selling persists, as these will signal whether deleveraging has run its course or further downside cascades loom.