Crypto liquidations hit $12.5 billion in October 2026 as longs take the beating

Bullish traders absorbed $9.213 billion of the month's forced closures as Bitcoin swung between $76,000 and $84,000 October 2026 was an expensive month to be wrong in crypto. Total liquidations reached $12.5 billion , and most of that pain landed on traders betting prices would go up. Long positions accounted for $9.213 billion of the wipeouts. Shorts lost $3.29 billion. Optimism , it turns out, was the costlier bet. Traders use leverage, meaning borrowed funds, to magnify their bets. When the market moves against them far enough, the exchange closes the position automatically to cover the loan.