MarketPR
Over $208 million in perpetual futures positions were forcibly closed across crypto markets in the past 24 hours, with long holders — traders betting on price increases — absorbing the majority of those losses.
$BTC led the flush at roughly $120 million in liquidations, followed by $ETH at $77.12 million, as a downward price move caught an over-extended bull book off guard.
How the Liquidation Cascade Works When a margin position's balance falls below the exchange's required maintenance level, the platform closes the trade automatically — no discretion, no warning.
The mechanism matters here: a market crowded with longs means each forced sale adds selling pressure, which triggers more closures below it.
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