Crypto markets see over $2.98B in liquidations over past 24 hours, shorts hit hardest

AI Market Summary

Coinglass data show heavy short-covering driven liquidations over the past 24 hours, with total liquidations reported at $2.987B and shorts dominating ($2.739B) versus $248M in longs. BTC ($1.419B) and ETH ($1.109B) account for most forced buying, indicating a sharp squeeze and elevated leverage stress. Near term, volatility and risk limits may tighten as positions reset.

Impact level

● High

Affected assets

BTC/USDT+8.00%

AI Insight · BTC/USDTAI Insight

▲ Bullish

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Total liquidations across crypto markets reached $2.987 billion in the past 24 hours, with short positions accounting for the bulk of the wipeout, Odaily Planet Daily reported, citing Coinglass data. Short liquidations totaled $2.739 billion, compared with $248 million for longs. By asset, BTC saw $1.419 billion in liquidations, while ETH recorded $1.109 billion.

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