Forced liquidations of perpetual futures positions across Bitcoin, Ethereum and Solana reached $164.25 million over the past 24 hours, with long positions absorbing the majority of that total on all three assets, according to derivatives data cited by COINOTAG.

The figures cover the 24-hour window preceding the report's publication on November 3, 2026. Because liquidation tallies count only positions closed by an exchange rather than voluntary exits, they measure how much leveraged exposure was forcibly removed from the market during the period — and the long-heavy split means the market moved against leveraged long holders on all three assets over that stretch.

What Is a Liquidation?

A liquidation occurs when an exchange force-closes a leveraged trading position because the margin backing it no longer meets the exchange's maintenance requirements. In cryptocurrency derivatives markets, the process is typically executed automatically by an exchange's risk engine once a position's remaining margin falls below the required threshold.

Leverage allows traders to control market exposure larger than the collateral they post. While it magnifies potential gains, it also magnifies losses and narrows the price move a position can absorb before it is closed out. That mechanism is why liquidation totals are widely tracked as a gauge of stress in leveraged positioning: they show where exposure was wound down involuntarily rather than by traders' own decisions.

Perpetual Futures and Long Positions

Perpetual futures are derivative contracts that track the price of an underlying asset with no expiration date, and they are among the most heavily traded instruments in digital-asset derivatives markets. To keep contract prices aligned with spot, perpetuals use a periodic funding-rate mechanism — payments exchanged between long and short holders — that traders commonly monitor alongside liquidation data when assessing leverage conditions.

A long position is a wager that an asset's price will rise, while a short position is a wager that it will fall. Long liquidations occur when the market moves against leveraged long holders, forcing the exchange to close the positions to prevent losses from exceeding posted collateral. Because closing a long involves selling, clusters of long liquidations add sell-side order flow while they execute — a mechanical feature of how forced closes settle, regardless of what triggered them.

Asset Context

Bitcoin is the largest cryptocurrency by market capitalization, and Ethereum ranks second; Solana is a high-throughput smart contract platform whose SOL token is among the most actively traded digital assets. All three maintain deep, continuously traded perpetual futures markets on major exchanges, which is why liquidation readings on these assets draw broad attention across the industry. Because the metric rolls with each new 24-hour window, the totals describe conditions at the time of publication rather than a cumulative count; open-interest and funding-rate readings are commonly consulted alongside liquidation data when tracking leverage in these markets.

This report was first published on COINOTAG: https://en.coinotag.com/bitcoin-ethereum-solana-long-liquidations-164-million