Crypto Market Liquidates $150M in 24 Hours, 78% in Long Positions

The cryptocurrency leverage market witnessed significant liquidations over the past 24 hours, totaling approximately 198.5 billion KRW ($150 million USD). According to data from Coinglass as of 7:50 AM on January 13, 58,213 traders saw their leveraged positions forcibly closed.

Breakdown of Liquidations

• Long Positions Dominant: Out of the $150 million liquidated, long positions accounted for $104.52 million (78%), while short positions represented $30.12 million.
• Time-Based Analysis:
  • In the past 12 hours, $90.07 million (72% long) were liquidated.
  • Over the past 4 hours, $56.3 million (98% long) were wiped out.

Bitcoin Leads Liquidation Totals

Bitcoin positions experienced the largest liquidation volume, with $30.15 million (22%) liquidated. Among these, long positions made up $24.65 million, representing 82% of Bitcoin liquidations.

Other notable assets affected:

• Altcoins: $22.97 million (17%), with long positions contributing $19.75 million (86%).
• Ethereum: $20.96 million, primarily from long positions.
• XRP: $6.55 million, mostly in long positions.

Largest Single Liquidation and Exchange Data

The single largest liquidation event occurred on Binance, involving a $8.21 million BTCUSDT position. Binance also led in overall liquidations, accounting for $58.49 million (43.44% of total liquidations), followed by OKX with $37.52 million (27.87%) and Bybit with $21.6 million (16.05%).

Current Market Prices

As of 7:50 AM on January 13, according to CoinMarketCap:

• Bitcoin is trading at $93,901, down 0.86% over the past day.
• Ethereum is priced at $3,239.00, reflecting a 1.62% decrease.

Understanding Liquidations

In the derivatives market, liquidations occur when a trader’s margin balance is insufficient to cover losses from positions that move against the market. This triggers an automatic closure of positions, often during periods of heightened volatility.

This wave of liquidations highlights the risks of leveraged trading, particularly in a volatile crypto market where sudden price movements can trigger significant margin calls.