Data released Nov. 6 counted $709 million in forced crypto futures closures over 24 hours, with long-side closures totaling $572 million, compared with $137 million on the short side.
Liquidations involving Bitcoin (BTC) and Ether (ETH) totaled $310 million: $179 million for Bitcoin and $131 million for Ether. Binance’s ETHUSDT market recorded the period’s largest individual order, valued at $10.94 million.
The long-side amount was more than four times the short-side total. Long positions generally benefit from rising prices, while short positions benefit from falling prices. The figures show the value of forced closures on each side, not traders’ final losses.
An exchange can close a leveraged position when its margin falls below the required level. EconoTimes’ explainer on crypto liquidations describes how that process works.
