08.04.2026 22:34

A seismic wave of liquidations swept through the cryptocurrency market over the past 24 hours, obliterating hundreds of millions of dollars in trader positions and underscoring the perilous combination of extreme volatility and aggressive leverage. According to widely shared online data, a staggering 121,216 traders were liquidated during this period, a clear testament to the heightened turbulence gripping major exchanges.

The total value of positions wiped out approached a staggering $602.04 million. Analysis of the liquidation hotspots reveals Bitcoin (BTC) as the primary epicenter, with approximately $245.54 million in liquidations attributed to it alone. The most extreme single liquidation event was a BTCUSDT order valued at $11.79 million on the Binance exchange, highlighting how significant Bitcoin price swings continue to trigger cascading liquidations, particularly for heavily leveraged participants.

Exchange-level data further illuminates the profound bias toward long positions being liquidated across virtually all major platforms. Hyperliquid led the volume with $206.67 million in liquidations, followed by Bybit at $104.64 million and Binance at $104.33 million. Other significant volumes included Bitget ($58.09 million), Gate ($50.56 million), OKX ($39.84 million), HTX ($21.37 million), and Aster ($6.04 million).

In virtually every case, liquidations of long positions far outweighed those of short positions. While Hyperliquid presented a relatively balanced picture with 58.32% shorts versus 41.68% longs, the disparity was extreme elsewhere. Bybit saw 82.95% of its liquidations come from longs, Binance recorded 73.76% longs, and Bitget's liquidation tally was a overwhelming 83.18% long positions. This pattern persisted with OKX (68.31% longs), HTX (75.72% longs), Gate (81.19% longs), and Aster, painting a consistent picture of the market's heavy long exposure being ruthlessly punished in the recent downturn.