Crypto Leverage Wipeout Reaches $1.09 Billion in 24 Hours
CoinGlass data shows $1.09 billion in crypto leveraged positions were liquidated over 24 hours, with 181,077 positions closed. Long positions accounted for $930.54 million of losses, while shorts made up $161.85 million. Bitcoin fell from about $86,000 to near $82,000, though some short liquidations later hinted at a limited recovery.
CoinGlass tracked 181,077 leveraged positions closed in a day, totaling $1.09 billion. Bullish bets lost $930.54 million, while bearish bets lost $161.85 million. The biggest single closure was an Ethereum trade worth $19.98 million on Hyperliquid.
Bitcoin moved from roughly $86,000 toward $82,000. In later windows, short liquidations outpaced longs, including $46.29 million versus $11.08 million over 12 hours. ZEC shorts near $1,234 closed, and hourly liquidations eased to $5.60 million, suggesting tentative stabilization.
The wipeout could affect retail and professional traders using leverage, potentially causing sudden losses and reduced risk appetite. Exchanges and platforms may face higher scrutiny over liquidation mechanics and high-leverage products. Broader crypto sentiment may weaken if Bitcoin stays near $80,000-$82,000, though stabilization could restore some confidence. People with indirect exposure through funds or fintech apps may feel volatility, but effects likely remain concentrated among active crypto participants.