71,000 crypto traders were liquidated as $151M in leveraged positions collapsed, while Bitcoin futures open interest dropped. More than $151M in crypto positions were liquidated in 24 hours, as Bitcoin futures open interest dropped from $47B to $21.8B. Thousands of traders were forced out of positions across the crypto market over the past 24 hours as volatility swept through derivatives exchanges. Sudden price movements caught many leveraged bets off guard, triggering a chain reaction of liquidations.
Data shows that most losses came from traders who expected prices to continue rising. 71,519 crypto traders were liquidated during the period, with total forced closures reaching $151.16 million. Long positions accounted for the largest share of losses. Bullish bets recorded $128.23 million in liquidations, while short positions totaled $22.93 million.
The largest single liquidation order happened on Bybit – $1.72 million. Bitcoin recorded the highest liquidation total among major cryptocurrencies. Bitcoin saw $58.63 million in positions liquidated over the 24-hour period. Ethereum followed with $31.54 million in liquidations.
Solana registered $8.36 million, while other cryptocurrencies together accounted for about $16.13 million. Large-cap assets often dominate derivatives exposure because traders place higher-margin positions in more liquid markets. Bitcoin and Ethereum frequently account for the majority of liquidation activity. Binance recorded the highest liquidation volume at $37.04 million.
Bybit followed with $32.85 million in liquidations, while Hyperliquid ranked third with $22.88 million. Alongside the recent liquidation wave, data points to a wider reduction in leveraged exposure within Bitcoin derivatives markets. Outstanding positions across exchanges dropped from around $47 billion to roughly $21.8 billion. That represents a decline of more than 50%, indicating a significant reset in leveraged activity after the previous rally.
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