Bitcoin Longs Absorb $475M of $1.49B Crypto Liquidation Wave

Data from Coinglass shows that forced liquidations over the past 24 hours have totalled $1.49 billion. Long positions on Bitcoin (BTC) suffered the heaviest losses.

The majority of those losses were concentrated on one side of the market. However, one notable token moved in the opposite direction, causing losses for short sellers.

Long Positions on Bitcoin and Ethereum Shoulder Most of the Damage

According to Coinglass, long bets comprised $1.29 billion, or 86.8% of the total. Short sellers faced $197.08 million in liquidations, and 243,456 traders were forced out of positions.

Bitcoin accounted for the biggest share at $475.19 million, with 87.6% being longs. Ethereum (ETH) followed with $330.59 million, 84.7% of which came from longs.

Solana (SOL) contributed $82.50 million, and XRP (XRP) added $37.56 million. Smaller tokens outside the top group chipped in $178.72 million, with longs representing 89.2%.

Within a 12-hour period, liquidations hit $1.33 billion, nearly 90% of the daily figure.

The forced closures followed a broad price decline that pushed leveraged long positions past their margin limits. Bitcoin is trading at $77,111, down 4.67% in 24 hours, per BeInCrypto Markets. Ethereum fell 5.40% to $2,218, Solana decreased 6.94% to $94.38, and XRP dropped 7.54% to $1.22.

Traditional markets also felt the impact. Silver contracts saw $15.23 million in liquidations, while SanDisk contracts logged $16.06 million.

Machi (@machibigbrother) was liquidated 8 times over the past 6 hours, wiping out all his positions.

Machi woke up to find just $1.50 left in his Hyperliquid account.https://t.co/WJDgzXhg2b

— Lookonchain (@lookonchain) October 30, 2026

Hyperliquid Rises as Short Sellers Take the Losses

Not all markets punished buyers. Hyperliquid (HYPE) increased 12.74% to $90.37 in 24 hours, according to BeInCrypto Markets.

The token had already been climbing after reports that ICE plans US futures on Hyperliquid. Its $30.86 million in liquidations came predominantly from short sellers betting on a decline.

TRON (TRX) also gained 9.34% to $0.3601 in the same period, moving against the broader drop.

The sell-off came while Binance investigated a potential security issue. Prices had started dropping before the first wallet alerts appeared, BeInCrypto noted, so a direct link between the two remains unproven. Binance has since committed to covering all losses and has paused deposits and withdrawals.