$800 Million in Crypto Liquidations Wipe Out Leveraged Traders in 24 Hours

Roughly $803 million in leveraged positions got liquidated across ten crypto exchanges over the past day, and nearly all of it came from traders betting on higher prices. Longs accounted for $694 million, or 86% of the total, after Bitcoin slid just under $81,000 in early Asian trading.

Korean Stock Selloff Triggers Crypto Losses

The heaviest damage arrived in a single burst. About $595 million was wiped out in the last 12 hours as South Korea’s KOSPI dropped more than 6%. The biggest single closure was a $9.65 million Bitcoin long on Binance, which alone handled half of all liquidations.

Chip Stock Contracts Surpass XRP Liquidations

Bitcoin led asset liquidations at $181 million, with Ether close behind at $178 million. Surprisingly, perpetual futures tracking SanDisk saw $19.5 million liquidated, edging out HYPE and XRP. Contracts tied to SK Hynix, Micron and the SOXL semiconductor ETF also appeared on the heatmap, mirroring Seoul’s chip rout that dragged Samsung and SK Hynix down about 7% each.

Momentum has since flipped. Of the $74 million liquidated in the last four hours, 80% came from shorts as Bitcoin climbed back above $83,000. With long leverage largely cleared out, traders now eye Thursday’s US inflation report.