Over the past 24 hours, leveraged liquidations in the cryptocurrency market totaled about $354.69 million. Bitcoin accounted for about $227.90 million (64.2%), Ethereum liquidations stood at $110.94 million (31.3%), and other cryptocurrencies totaled $110.01 million (31.0%). Notably, short positions were disproportionately liquidated as the market moved higher.
Bitcoin rose 3.84% to $66,449.9, with short-liquidations reaching $155.89 million, more than twice the long-liquidations at $72.01 million. Solana advanced 7.81% to $85.25, with total liquidations of $27.48 million, of which shorts accounted for $20.54 million (74.7%). XRP climbed 6.77% to $1.3769, with $10.19 million in liquidations and $7.98 million (78.3%) of those being shorts. Dogecoin gained 5.79% to $0.09364, with $6.20 million liquidated and $4.93 million (79.5%) of that in shorts.
Gold-related tokens XAUT and PAXG moved lower, with long liquidations more prevalent for XAUT, totaling $2.01 million. LINK rose 6.86%, but 4 hours saw $0.46 million in short liquidations and $0.08 million in long liquidations. In crypto markets, liquidation occurs when traders holding leveraged positions fail to meet margin requirements, triggering automatic closure. The data indicate that, despite the overall upmove, short-position investors absorbed sizable losses, underscoring volatility in the altcoin space.
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