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The crypto derivatives market shed more than $208 million in forced liquidations over a single 24-hour period, with long positions — bets on prices rising — accounting for the majority of losses across Bitcoin ($BTC), Ethereum ($ETH), and gold-backed token futures.
The data reveals what happens when one-sided positioning meets a market that refuses to cooperate: a cascade of margin calls that accelerates the very move traders were betting against.
Bitcoin Took the Biggest Hit $BTC perpetual futures recorded approximately $120 million in liquidations, with 72.57% of that total coming from long positions.
It means nearly three-quarters of the forced closures were traders who had borrowed money to bet on higher prices and got caught when the market moved the other way.
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