The crypto market almost saw $1 billion in case of liquidations in the past 24 hours as evidenced by liquidation data from CryptoMeter, as heavily bullish positioning unraveled across key assets.
About $979.7 million The value of leveraged positions was wiped out over the period, with long traders accounting for the vast majority of losses.
The data showed approx $769.7 million in long-term liquidations compared to round $210.1 million in shorts. This almost means that 79% of all liquidated positions were due to bullish bets.
Bitcoin and Ethereum absorbed most of the damage as the broader market retreated.
Long traders dominated the wipeout
The liquidation imbalance suggests traders started the session with aggressive bullish positioning, only to see a sharp reversal of momentum.
Bitcoin saw it approximately $299.4 million in total liquidations during the 24-hour period, while Ethereum followed closely with approx $287.7 million.
Together, the two largest cryptocurrencies accounted for almost $600 million in liquidated positions. This indicates that the sell-off extended beyond isolated altcoin volatility and reflected broader deleveraging in the market.
Ethereum positioning seemed especially busy on the long side.
CryptoMeter data showed that ETH traders lost approx $246.4 million in long liquidations compared to only $41.3 million in shorts.
That means approximately 86% of Ethereum liquidations came from bullish positionsindicating that many traders were positioned for continued upside potential before the market turned around.
Zcash’s volatility was also notable
One of the more unusual moves came from Zcash, who answered approx $76.3 million in liquidations despite the relatively smaller market size.
The spike came as the Zcash ecosystem coordinated an emergency upgrade of the Orchard network after developers identified an issue earlier this week involving Orchard shielded transactions.
Although the Zcash Foundation said user funds and privacy remained unaffected, the protocol-level update temporarily suspended Orchard activity, leading to increased volatility in the asset.
The market positioning remains vulnerable
The latest wave of liquidations shows how sensitive the market remains to shifts in momentum. This is after weeks of increasingly crowded long positions in major cryptocurrencies.
Liquidation events of this magnitude often amplify volatility. This is because forced position closures accelerate downward price movements, especially when leverage concentration is one-sided.
The data also suggests that traders continue to use leverage aggressively despite persistent macro uncertainties.
Final summary
- Nearly $1 billion in crypto positions were liquidated in 24 hours, with long traders accounting for nearly 80% of the losses.
- Bitcoin and Ethereum led the sell-off, while Ethereum showed particularly busy bullish positioning before the reversal.