Crypto Liquidations Reach $335 Million as Long Positions Lead

Crypto traders faced about $335 million in forced position closures over a 24-hour period tallied Thursday, with long positions accounting for about $208 million as losses outweighed those on shorts. Short positions accounted for about $126 million. Bitcoin (BTC) had $47.54 million in long liquidations and $19.77 million in short liquidations. Ether (ETH) had $35.42 million in long liquidations and $32.62 million in short liquidations. A liquidation is an exchange’s forced closure of a leveraged position when a trader can no longer meet margin requirements. Long positions bet on price gains, while short positions bet on declines.