Short-sellers see max pain as crypto market pumps following inflation report Short-sellers see max pain as crypto market pumps following inflation report
CoinGlass data shows over 85% of the $151.24 crypto liquidations over the period were short positions — amounting to roughly $130 million.
2 min read
Updated: Mar. 14, 2023 at 5:40 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Crypto short-sellers saw massive liquidation in the past four hours as the market pumped on the back of inflation numbers remaining within expected bounds.
CoinGlass data shows that more than 85% of the $151.24 crypto liquidations over the period were short positions — amounting to roughly $130 million as of press time.
Meanwhile, long liquidations over the same time stood at a little over $21 million as of press time — less than 15%.
Meanwhile, liquidations hit $223.65 million in total over a 24-hour time frame — with short liquidations amounting to $175.82 million and longs amounting to $48.76 million.
Approximately 57,721 traders were liquidated over the last 24 hours.
BTC liquidations
Over the past four hours, a little over $57 million was liquidated in BTC short positions as the flagship crypto breached $26,000. Long liquidations over the period stood at $11.71 million.
BTC was trading at $25,927 as of press time after getting rejected by resistance at $26,500.
Total BTC liquidations over the last 24 hours amounted to $103.61 million — $49.15 million of which was liquidated in the last four hours.
ETH liquidations
Ethereum short-sellers saw similar pain over the period, with a little under $40 million in short positions liquidated in the last four hours. Long liquidations stood at $4.65 million.
Roughly $56 million in ETH positions were liquidated over the past 24 hours in total — with about $21 million liquidated in the past four hours, as of press time.
The largest single liquidation was an ETHUSD position and totaled $10.01 million, according to CoinGlass data.
Exchange numbers
The vast majority of liquidations over the past 24 hours — 34.28% — took place on Binance. Short liquidations made up 73.53% of the $75.83 million total and stood at $55.76 million.
OKX saw the second most liquidations — 22.08% — over the period, with short liquidations on the exchange amounting to $42.07 million. Total liquidations on the exchange stood at $48.84 million.
Bybit also saw a significant percentage of liquidations — 18.1% — over the period, with shorts contributing $27.47 million of the $40.04 million total.
Mentioned in this article
Author 
Assad Jafri
AJ, a passionate journalist since Yemen's 2011 Arab Spring, has honed his skills worldwide for over a decade. Specializing in financial journalism, he now focuses on crypto reporting.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
Ethereum
$3,462.84
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Bybit
Bybit is a cryptocurrency derivative trading platform established in March 2018 and registered in the BVI.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
