Crypto traders lost $1.49 billion to forced liquidations over the past 24 hours, Coinglass data shows. Bullish bets on Bitcoin (BTC) took the heaviest blow.
Most of those losses landed on one side of the market. However, one major token moved against the sell-off and left short sellers on the losing end.
Bitcoin and Ethereum Longs Carry Most of the Damage
Long bets accounted for $1.29 billion, or 86.8% of the total, according to Coinglass. Short sellers absorbed $197.08 million, and 243,456 traders were forced out.
Bitcoin positions made up the largest share at $475.19 million, with longs at 87.6%. Ethereum (ETH) followed with $330.59 million, of which 84.7% came from longs.
Solana (SOL) and XRP (XRP) added $82.50 million and $37.56 million, respectively. Smaller tokens outside the top group contributed another $178.72 million, with longs at 89.2%.
Over 12 hours, liquidations reached $1.33 billion, close to 90% of the daily total.
The forced closures followed a broad price drop, which pushed leveraged long positions past their margin limits. Bitcoin trades at $77,111, down 4.67% in 24 hours, per BeInCrypto Markets. Ethereum dropped 5.40% to $2,218. Solana lost 6.94% to $94.38, and XRP slid 7.54% to $1.22.
The wave reached traditional assets too. Contracts tracking silver saw $15.23 million in liquidations, while SanDisk contracts logged $16.06 million.
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Hyperliquid Rallies While Shorts Take the Losses
Not every market punished buyers. Hyperliquid (HYPE) rose 12.74% to $90.37 in 24 hours, according to BeInCrypto Markets.
The token was already rising after reports that ICE plans US futures on Hyperliquid. Its $30.86 million in liquidations came mostly from short sellers betting on a decline.
TRON (TRX) also climbed 9.34% to $0.3601 over the same period, against the broader drop.
The sell-off came amid Binance’s probe into a potential security issue. Prices had started sliding before the first wallet alerts surfaced, BeInCrypto noted, so a direct link between the two remains unproven. Binance has since pledged to cover all losses and paused deposits and withdrawals.
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The post Bitcoin Bulls Take the Biggest Hit in a $1.49 Billion Crypto Liquidation Day appeared first on BeInCrypto.
