The Oct. 19 figures measured about $192 million in positions less than 5% from estimated closure levels across 11 crypto accounts; they did not show completed liquidations.
The exposure spanned three tokens. Bitcoin (BTC) and Ether (ETH) were the only ones identified. The $192 million refers to position value; it does not represent losses or liquidations already carried out.
A leveraged trade can be forcibly closed if its price moves far enough against the trader. For Bitcoin and Ether, rising prices put short positions at risk, while falling prices put long positions at risk. The snapshot measured how close the positions were to estimated closure levels, not whether any had closed.
That distinction separates the snapshot from an Oct. 15 one-hour tally of $49.33 million in crypto liquidations, which counted positions already closed.
The report names only two of the three assets and does not allocate the total between long and short positions.
