$270 Million Cleared in 24 Hours Leveraged long positions carried the loss in the crypto market over the past 24 hours, absorbing 64.05% of the $270.07 million in forced liquidations that swe
Leveraged long positions carried the loss in the crypto market over the past 24 hours, absorbing 64.05% of the $270.07 million in forced liquidations that swept through leveraged books. Aggregated derivatives data, stamped as of 8:01 p.m. KST on Sept. 29 (11:01 UTC), shows $172.97 million of long positions forcibly unwound against $97.10 million in short positions across the top 20 liquidated blockchain assets — longs were closed out at roughly 1.8 times the rate of the opposite side of the book. The totals span the twenty most-liquidated assets by notional, so the figure reads as a floor on the true market-wide number rather than an exhaustive count.
The flush landed while spot prices moved in the opposite direction. Bitcoin (BTC) printed $84,005, a 1.31% gain over the 24-hour window, while Ethereum(ETH)$2,683.26 (ETH) changed hands at $2,713, up 2.16%. Solana (SOL) added 0.73% and XRP gained 1.12%, whereas Hyperliquid (HYPE) slipped 1.57% and Zcash (ZEC) dropped 8.86% — the steepest decline among the major assets measured. That mix of rising benchmarks and long-heavy liquidations is the signature of a deleveraging flush inside a firmer tape: bets stacked for further upside were stopped out by shallow intraday pullbacks in the perpetual order book even as spot drifted higher, rather than being taken out by an outright sell-off. The mechanism is unforgiving. A liquidation fires when the margin on a perpetual futures position — the derivative class behind nearly all of these forced exits — falls below the exchange's maintenance requirement, at which point the venue closes the position at market and the loss is realized immediately. With leverage concentrated on the long side across majors and altcoins alike, even brief dips proved enough to trip the most extended positions.
Ethereum(ETH)$2,683.26 (ETH) took the largest single-asset hit at $81.47 million in liquidations over the window. Notably, shorts made up 53% of that Ethereum total — the one asset among the top names where the squeezed side was the short book, consistent with a squeeze inside ETH's 2.16% advance. Bitcoin followed with $68.30 million, split exactly down the middle at 50% longs and 50% shorts, the most balanced print of any major. Below the two largest assets, the ladder tilts heavily toward longs. Zcash's $36.16 million came 91% from long positions, the figure aligning cleanly with its 8.86% slide — the single major asset where a falling price and long-heavy liquidations tell the same story. NEAR recorded $13.39 million, 93% of it from longs; Solana saw $11.93 million at 61% longs; Hyperliquid $9.85 million at 92% longs; XRP $8.78 million at 76% longs; and SNDK $6.19 million, 75% of it long. Read together, the coin-level split sketches where risk was positioned: modest, evenly matched leverage into the rising majors, and aggressive long positioning into altcoins that either fell outright or failed to join the bounce. ETH, the asset behind the network's staking economy and the deepest perp liquidity after Bitcoin — a depth concentrated on the largest venues in our Best Crypto Exchanges guide and on derivatives books such as Injective (INJ) — absorbed the largest absolute total while its short share hints the squeeze ran two-sided; the altcoin tail, by contrast, bled almost exclusively from the long side.
COINOTAG's analysis treats the exchange-side liquidation record as the primary document here: it is compiled directly from venue data, not modeled, and it says plainly which side paid. After a session in which longs absorbed nearly two-thirds of the wipeout, the long book is measurably lighter — $172.97 million of long exposure removed against $97.10 million of short. Traditional volatility instruments such as the UVXY ETF (VIX futures) never register this deleveraging; the crypto derivatives tape is its own gauge. What the record leaves standing is the question it always leaves: whether the remaining longs re-lever into strength, or funding resets first.
https://en.coinotag.com/longs-take-64-percent-270m-crypto-liquidations-ethereum-worst-hit
