Market Bloodbath: $311M in Liquidations Swept Across Crypto Markets in 24 Hours

The cryptocurrency derivatives market experienced significant volatility over the past day, with liquidations reaching a staggering $311 million across all trading platforms, according to Coinglass data from December 13.

Long Positions Take the Hardest Hit

Long traders bore the brunt of the market downturn, with $265 million in long position liquidations dominating the liquidation landscape. This dwarfed the $45.5184 million in short position liquidations, revealing a heavily skewed directional bias in the market at the time of the sell-off.

Scale of Forced Exits Reaches Alarming Levels

The sheer number of traders caught off-guard speaks volumes about market sentiment: a total of 101,384 accounts were liquidated globally within this 24-hour window. The largest single liquidation event on Hyperliquid’s ETH-USD contract alone wiped out $5.6806 million, underscoring the devastating impact that large leveraged positions can suffer during volatile price swings.

What This Means for Traders

Such liquidation cascades typically occur when price movements exceed stop-loss levels or margin calls trigger across platforms. The concentrated nature of the largest liquidation on Hyperliquid suggests that even decentralized derivatives venues face significant trader risk during market turmoil. Traders holding leveraged positions should take note: volatility can strike quickly and decisively.