Crypto Derivatives Liquidations Total $48.7 Million Over 24 Hours, With Long Positions Bearing the Larger Share
Key Takeaways
- •Roughly $48.7 million in leveraged cryptocurrency positions were liquidated across derivatives venues in the 24 hours to 01:31 UTC on November 1, 2026.
- •Long positions absorbed $27.83 million of the forced closures, surpassing the $20.89 million from short positions by close to $7 million.
- •The heavier long-side share points to falling prices as the primary driver, while bearish positions were also unwound as prices rose at points in the period.
- •Liquidation figures are compiled as rolling 24-hour snapshots, so sequential readings are used to judge whether leverage stress is building or fading.
- •A liquidation is the automatic exchange closure of a leveraged position when its collateral falls below maintenance margin, and each closure generates market orders that can reinforce volatility.
Roughly $48.7 million in leveraged cryptocurrency positions were forcibly closed out over the past 24 hours, with long positions absorbing the larger share of the total, according to aggregate derivatives data first published by COINOTAG on November 1, 2026.
The figures, recorded as of 01:31 UTC on November 1, put long liquidations at $27.83 million against $20.89 million for short positions, a gap of close to $7 million between the two sides of the market. Totals of this kind are compiled as a rolling 24-hour snapshot across derivatives venues, so the numbers shift continuously as the measurement window advances, which is why sequential snapshots are commonly used to gauge whether leverage stress is building or fading.
How the Liquidations Break Down
Long liquidations occur when traders holding leveraged bullish positions are forcibly closed as prices move lower, while short liquidations take place when leveraged bearish bets are unwound as prices rise. The heavier weighting of long liquidations in the latest 24-hour window indicates that the forced closures during the period were driven primarily by downward moves against leveraged bullish traders. At the same time, the eight-figure total on the short side shows the window was not purely one-directional, with leveraged bearish positions also unwound as prices rose at points during the period.
Background: What a Liquidation Is
A liquidation is the automatic closure of a leveraged position by an exchange when the collateral backing it falls below the required maintenance margin. Leverage allows traders to control exposure larger than their posted collateral, which magnifies both potential gains and losses; when a position moves sufficiently against its holder, the exchange closes it to prevent losses from exceeding the collateral.
Aggregate liquidation totals, compiled across derivatives venues, are widely followed as an indicator of leverage stress in cryptocurrency markets, since spikes in forced closures typically coincide with sharp price swings that wipe out thinly margined positions on both sides of the book. Each forced closure also generates market orders of its own, a feedback dynamic that market participants monitor when episodes of heavy liquidation coincide with heightened volatility.
Source
This article is based on reporting first published by COINOTAG: Crypto Derivatives Wipe Out $48.7 Million in Positions Over 24 Hours
