A Nov. 9 market snapshot put 24-hour crypto derivatives liquidations at $1.187 billion, with traders wagering on higher prices absorbing 88% of the forced closures.
Of the total, $1.042 billion involved longs and $145 million involved shorts. A liquidation closes a leveraged trade when its margin is no longer sufficient to keep it open.
Liquidations tied to Ether (ETH) totaled $505 million; Bitcoin (BTC) accounted for $318 million. Together, they represented $823 million, or about 69% of the total.
Positions tied to other assets made up the remaining $364 million.
The largest single forced closure, worth $48.16 million, occurred in Binance’s ETH/USDT market.
As of 15:38 UTC Nov. 9, Ether traded at $2,133.62, down 4.62% over 24 hours. Bitcoin was $75,131.00, down 1.09% over the same period.
