Over the past 24 hours, long crypto positions worth approximately $309 million were forcibly liquidated. The event primarily affected traders who had bet on price increases, with the majority of losses occurring on major platforms including Binance, OKX, Bybit, and Hyperliquid.
Bitcoin and Ethereum accounted for the largest share of the liquidations. During periods of market stress, daily liquidation totals for each of these assets typically range between $40 million and $80 million, a pattern that held true during this recent event.
The liquidations were driven by the mechanics of perpetual futures contracts, where a drop in spot price of 3–4% can trigger forced closures of leveraged positions. These closures create additional sell pressure, potentially leading to a cascade of further liquidations across the market.
Data tracking varied by source, with CoinBoss reporting approximately $306 million in long liquidations, while ByKaranteli estimated figures around $234 million out of a total of roughly $303 million.
Despite the scale of the event, it is considered a mid-tier occurrence for September 2026. The month has seen higher volatility, with total daily liquidations exceeding $600 million on several occasions and approaching $1 billion on the most active trading days.
