Consolidation of long position liquidations in the cryptocurrency futures market, totaling $154 million within 24 hours

In late December, a large-scale liquidation round occurred across the entire cryptocurrency derivatives market. According to data analysis by PANews and CoinAnk, it is reported that approximately $154 million worth of futures contracts were forcibly liquidated within just 24 hours across the network. This scale of liquidation suggests that market participants are rapidly adjusting their positions.

Liquidation Balance Between Long and Short Positions

In this large-scale liquidation, the damage to long positions is particularly prominent. Looking at the breakdown of the liquidation amounts, long positions were liquidated to the tune of $91,623,100, while short positions were liquidated to $62,052,300. This ratio indicates that the market was exerting greater pressure on buy-held positions. Since long position liquidations account for about 60% of the total, it is believed that traders expecting an upward trend suffered especially significant losses.

Bitcoin and Ethereum at the Center of Liquidations

On an individual asset basis, Bitcoin (BTC) and Ethereum (ETH) account for the majority of the total liquidation amount. The total liquidation amount for BTC was $46,504,000, and for ETH, it was $33,599,200. These two major assets alone make up over 60% of the total liquidation, highlighting that the most liquid products in the cryptocurrency market are at the core of the liquidation pressure.