Over 24 hours, forced position closures swept through crypto markets, affecting traders across Bitcoin and Ethereum with combined liquidations reaching nearly $279 million. Data compiled from Coinglass reveals that bearish bet closures accounted for $109 million while bullish position liquidations hit $170 million—a telling split showing where market pressure concentrated.

Bitcoin traders faced the brunt: long positions saw approximately $46.77 million liquidated, with short closures at $18.47 million. Ethereum proved even more volatile for leveraged traders, recording $63.43 million in long liquidations against $25.69 million in short closures.

The scale—nearly $280 million in forced trades—underscores how market swings trigger cascading liquidations when leverage gets tested. These figures typically signal either sharp price movements or margin calls hitting overleveraged positions, a common occurrence when volatility spikes across digital asset markets.