$543 Million in Crypto Liquidations as Markets Face Renewed Volatility

Over the past 24 hours, approximately $543 million in cryptocurrency leveraged positions were liquidated, according to data from Coinglass as of 8:20 a.m. on January 10. A total of 130,305 traders were impacted during this period, with $371.76 million in positions forcibly closed.

Long positions accounted for $263.57 million, or 71% of the liquidations, while short positions made up $108.20 million.

In the past 12 hours alone, $241.06 million worth of positions were liquidated, with 76% being long positions. Over the last 4 hours, liquidations totaled $81.98 million, 87% of which were long positions.

Bitcoin Leads Liquidations

Bitcoin positions saw the highest liquidation volume, with $94.52 million wiped out—66% of which were long positions, amounting to $62.51 million. Ethereum followed, with $67.50 million liquidated, of which $41.10 million (61%) were long positions.

Other cryptocurrencies also faced significant liquidations, including $57.69 million in positions for various altcoins and $22.50 million in Solana positions, primarily long positions.

The largest single liquidation event occurred on BitMEX, involving an XBTUSD position worth approximately $5.5 million (₩8.03 billion).

Binance Leads Liquidation Activity

Binance led the liquidation activity among exchanges, accounting for $141.46 million (38.05%) of the total, with 75.69% of liquidated positions being long. OKX followed with $115.44 million (31.05%), and Bybit reported $74.25 million (19.97%), 78.08% of which were long positions.

What Is Liquidation?

Liquidation occurs in derivatives markets when the value of a leveraged position moves against a trader's expectations, leading to insufficient collateral to maintain the position. In such cases, the position is forcibly closed.

Current Market Status

As of 8:20 a.m. on January 10, Bitcoin was trading at $92,419, down 2.71% over the past 24 hours. Ethereum dropped 3.07%, trading at $3,220.00, according to CoinMarketCap.

The surge in liquidations reflects ongoing volatility in the cryptocurrency market, as traders navigate macroeconomic uncertainties and fluctuating market conditions.