Mass liquidations hit as derivatives market plunges… $758 million wiped out in four hours
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Summary
- Over the past four hours, about $758 million in forced liquidations occurred in the global cryptoasset derivatives market.
- During that period, long positions accounted for most of the liquidations at about $730 million, and over the past 24 hours 241,172 investors were liquidated for about $864 million.
- This is interpreted as the one-time unwinding of accumulated bullish positions during recent price fluctuations, and the largest single liquidation was about $25.83 million on Hyperliquid’s BTC-USDT trading pair.
As the cryptoasset (cryptocurrency) market sees a sharp surge in volatility, large-scale forced liquidations are continuing, centered on the derivatives market.
According to CoinGlass data cited by Wu Blockchain on the 19th (local time), liquidations across the global cryptoasset market over the past four hours totaled about $758 million (about 1.1175 trillion won). Of that, long-position liquidations accounted for $730 million (about 1.0763 trillion won), making up the bulk, while short-position liquidations came to just $27.63 million (about 40.7 billion won).
Over the past 24 hours, a total of 241,172 investors were liquidated, and total liquidations expanded to about $864 million. This is interpreted as the result of an excessive buildup of bullish positions during recent price swings being unwound all at once.
The single largest liquidation occurred on the Hyperliquid exchange. On the BTC-USDT trading pair, a position worth about $25.83 million was liquidated in a single event.
