Crypto Liquidations Hit $834M As Ether Traders Take Biggest Beating

Crypto traders lost $834 million to forced selling in the past 24 hours, and $776 million of that hit in just four hours on Sunday night as Ether, Bitcoin and XRP slid, CoinGlass data showed.

Key Takeaways

Crypto liquidations reached $834.17 million in 24 hours, with $776.16 million in the last four hours alone
Bullish bets made up 92.5% of the losses, or $771.68 million
Ether traders lost the most at $345.68 million, ahead of Bitcoin at $230.63 million
138,859 traders were wiped out, and the single biggest hit was a $48.16 million Ether position on Binance

Almost all of the damage landed on traders betting prices would rise. Long positions accounted for $771.68 million of the total, while short sellers lost just $62.49 million.

The largest single liquidation was a $48.16 million ETHUSDT position on Binance, the world’s biggest crypto exchange by trading volume.

Four Hours Did Most Of The Damage

The selloff was sudden rather than slow. Nearly 93% of the day’s liquidations came in the last four hours, which points to one sharp drop that set off a chain of automatic sales.

Time Window	Total Liquidated	Long Bets	Short Bets
Last 1 hour	$19.33M	$14.90M	$4.43M
Last 4 hours	$776.16M	$737.64M	$38.52M
Last 12 hours	$816.32M	$761.78M	$54.54M
Last 24 hours	$834.17M	$771.68M	$62.49M

CoinGlass figures as of 11pm UK time, Sunday, Nov. 8

Ether Takes The Biggest Beating

Ether bets accounted for $345.68 million of the losses, with 94.3% of that coming from long positions. Ether traded near $2,136 late Sunday, down about 4.3% on the day.

Bitcoin traders lost $230.63 million, 95.4% of it on long bets, even though the coin itself fell only about 1.3% to around $74,700. XRP liquidations reached $30.53 million as the token dropped about 3.8% to $1.12. Solana slipped below $87.

Also Read: Bug Bounty Site Immunefi Pays $25,000 To Stop A Crypto Cash Drain

How A Small Drop Becomes A Big Wipeout

Leveraged traders borrow to make bets several times bigger than the cash they put down. When the price moves against them and their deposit no longer covers the loss, the exchange closes the trade automatically.

Those forced sales push prices lower, which knocks out the next group of traders. That is why a single-digit price move can turn into hundreds of millions of dollars in losses within hours.

The lopsided split matters too. With more than nine in ten losses on the long side, the market had been leaning heavily toward higher prices before the drop. The next thing to watch is whether open interest and funding rates cool off on Monday, a sign that the excess leverage has been flushed out.