Forced closures of bullish crypto bets accounted for most of $525 million in liquidations over 24 hours, with Bitcoin and Ether carrying $290 million of the long-side total.
Long positions made up about 84% of the tally. Liquidated longs were valued at $443 million, while shorts came to $81.8 million.
Of Bitcoin (BTC) liquidations, $154 million came from long positions and $20.37 million from shorts. Ether (ETH) saw $136 million on the long side and $25.78 million on the short side. At $290 million, their combined long-side figure was about 65% of the long liquidation total.
A long trade gains value as its asset rises; a short trade benefits from a decline. A separate EconoTimes one-hour tally on Oct. 24 recorded $191 million in long liquidations during that shorter window.
As of 9:50 a.m. ET (13:50 UTC) Sunday, Bitcoin traded at $80,338, down 0.36% over 24 hours. Ether was at $2,334.99, down 1.33%.
