Crypto Liquidations Reach $200 Million in One Hour, Mostly Longs

Crypto positions worth about $200 million were liquidated across global markets over a one-hour period on Oct. 24, with long positions making up nearly all of the total. The split points to liquidation activity concentrated among traders positioned for prices to rise. Long liquidations totaled $191 million, compared with $9 million in short liquidations. That puts the long-side figure at more than 21 times the short-side amount. Longs accounted for about 96% of the roughly $200 million total, based on the reported breakdown. The gap between the two sides was $182 million.