Bitcoin Long Liquidations Reach $22.59 Million in One Hour

Bitcoin (BTC) saw $22.59 million in long positions liquidated across Binance, Bybit and OKX in the hour ended at 8:10 a.m. ET (13:10 UTC) Nov. 12, within $23.12 million in total liquidations tallied by TokenPost.

TokenPost’s tally combines public liquidation data from Binance, Bybit and OKX; it covers those three venues and is not a market-wide total. Long positions accounted for $22.59 million, compared with $530,000 in short liquidations, bringing the combined figure to $23.12 million.

Bitcoin’s price moved from $72,840 to $72,478 over the same hour, a 0.50% decline. That price window matches the liquidation period, giving a simultaneous measure of BTC trading and forced position closures on the three exchanges.

Long positions are trades that benefit from rising prices, while short positions benefit from falling prices. The larger long liquidation figure coincided with Bitcoin’s lower price at the end of the hour. Bitcoin is the largest crypto asset by market capitalization.