On February 21, 2026, the cryptocurrency derivatives market saw forced closures of leveraged positions totaling approximately $102 million within a 24-hour period. Data from Coinglass indicates that more than 56,000 traders were affected by these liquidations.
Short positions bore the brunt of the market movement, accounting for $74.11 million in liquidations, while long positions totaled $27.5 million. Bitcoin short liquidations reached $23.54 million, and Ethereum short liquidations amounted to $10.90 million.
A single large-scale liquidation occurred on the decentralized exchange Hyperliquid, where a trader lost an $8.5 million SOL-USD position. This event highlights the risks associated with leveraged trading and the visibility of large positions on decentralized platforms.
