Liquidations - Liquidations
Monitoring forced position closures in futures markets in real time. Liquidations show where leveraged traders have succumbed to pressure—and where the market may accelerate.
Liquidations by assets (24h)
| $ | Assets | 1h | 4h | 12:00 | 24h | Preponderance | |
|---|---|---|---|---|---|---|---|
| 1 |  BTCBitcoin | $197.61B | $236.71B | $302.98B | $406.15B | 72% L | |
| 2 |  ETHEthereum | $2.92B | $3.28B | $4.11B | $7.54B | 63% L | |
| 3 | X XAUGold | $2.10B | $2.10B | $2.31B | $2.36B | 85% L | |
| 4 | N NAS100Nasdaq 100 | $512.0M | $512.0M | $512.0M | $512.0M | 100% L | |
| 5 |  SOLSolana | $3.9M | $6.1M | $378.6M | $384.8M | 98% L | |
| 6 | X XAGSilver | $200.5M | $200.6M | $202.1M | $203.2M | 83% L | |
| 7 |  BNBBNB | $141.7M | $142.3M | $143.6M | $143.8M | 55% S | |
| 8 |  ZECZcash | $27.5M | $36.9M | $43.7M | $114.7M | 73% L | |
| 9 |  XAUTTether Gold | $49.2M | $49.2M | $49.2M | $49.2M | 84% L | |
| 10 |  PAXGPAX Gold | $44.5M | $44.5M | $44.5M | $44.6M | 87% L | |
| 11 |  TAOBittensor | $25.4M | $25.4M | $28.3M | $34.9M | 77% S | |
| 12 |  ORDIORDI | $24.7M | $25.8M | $31.0M | $32.5M | 51% S | |
| 13 |  ICPInternet Computer | $30.3M | $30.3M | $31.8M | $31.9M | 60% S | |
| 14 |  MOVRMoonriver | $19.9M | $19.9M | $19.9M | $20.0M | 57% S | |
| 15 |  GIGGLEGiggle Fund | $13.2M | $14.9M | $16.6M | $18.0M | 71% S | |
| 16 | S SPX500S&P 500 | $16.3M | $16.3M | $16.3M | $16.3M | 100% L | |
| 17 |  HYPEHyperliquid | $2.0M | $2.2M | $11.7M | $15.8M | 91% L | |
| 18 | B BZBZ | $97.8K | $1.6M | $9.5M | $14.2M | 63% L | |
| 19 |  AAVEAave | $8.4M | $8.4M | $9.9M | $13.3M | 65% L | |
| 20 |  PIEVERSEPieverse | $204.8K | $3.1M | $8.0M | $12.8M | 51% L |
![Phoenix Global [OLD]](https://coin-images.coingecko.com/coins/images/1074/large/phoenix-logo.png?1696502176){kind=logo}
Liquidations by exchange (24h)
| Exchange | Total | Longs | Shorts | Share | Preponderance |
|---|---|---|---|---|---|
| $203.82B | $126.18B | $77.64B | 48.8% | 61.9% Long | |
| $162.50B | $162.50B | $234.1K | 38.9% | 100.0% Long | |
| $48.94B | $10.46B | $38.48B | 11.7% | 78.6% Short | |
| $1.49B | $970.7M | $523.0M | 0.4% | 65.0% Long | |
| $880.4M | $545.7M | $334.7M | 0.2% | 62.0% Long | |
| $200.0M | $125.3M | $74.7M | 0.0% | 62.7% Long | |
| $31.0M | $26.2M | $4.8M | 0.0% | 84.4% Long | |
| $10.0M | $5.1M | $4.9M | 0.0% | 51.4% Long | |
| $8.8M | $7.3M | $1.5M | 0.0% | 82.9% Long | |
| $5.0M | $986.1K | $4.0M | 0.0% | 80.4% Short | |
| $2.1M | $96.4K | $2.1M | 0.0% | 95.5% Short | |
| $331.8K | $327.3K | $4.6K | 0.0% | 98.6% Long |
What are liquidations and why are they important for Bitcoin-traders?
Liquidation is the forced closure of a position by the exchange when a trader's margin falls below the required level. This happens all the time in the crypto market: a trader opens a long position with 10x leverage, the price drops by 8-10%, and the exchange automatically closes the position. The liquidation amount is entered into the order book as a market order, further accelerating the move.
Liquidations are a cascading mechanism. In January 2024, over $800 million in long positions were liquidated in one hour after a false breakout of $49,000. The first wave of liquidations knocked out stops, and the second wave pulled out the last remaining positions with leverage. This is why the market often reverses after large liquidations: all the weak capital has already been squeezed out.
For a trader, monitoring liquidations offers two benefits: (1) assessing current pressure—many liquidations indicate an overheated market; (2) identifying entry points—after a cascade, the market often forms a local bottom or top.
Interpretation of liquidation data
Mass liquidations of longs
The sharp decline wiped out leveraged long positions. The cascading effect accelerates the decline. But after the full squeeze, a short-term bottom often forms—weak hands are already out of the market.
Mass liquidation of shorts
A short squeeze is when a price rise forces short sellers to close their positions, accelerating the rally. This is a classic scenario after positive news or a breakout of a key resistance level.
Low liquidations + high OI
The market is calm, but many positions have accumulated. "The calm before the storm"—open interest will sooner or later lead to a cascade. Be careful with leverage.
Equal liquidations of longs and shorts
The market is ranging, with both sides taking hits. A sideways trend with high volatility is a typical consolidation before a directional move.