In the 24 hours between June 11 and 12, the crypto market saw $336.84 in liquidations, with over 114,000 traders rekt as leveraged positions were flushed out across most exchanges.
Nearly 74% of total liquidations came from longs following a sharp intraday correction, most likely driven by a retracement in ETH, which alone accounted for over $113 in forced exits.
Ethereum’s dominance in the liquidation charts stands out, nearly doubling Bitcoin’s $58.54 million. This pattern often emerges when ETH outperforms during rallies and then sharply corrects, catching overexposed long traders off guard.
The ETH-led cascade extended across other majors, including $13 million in Solana and $10.75 million in Dogecoin liquidations. Data from CoinGlass showed that mid-caps such as XRP, SUI, and PEPE registered visible but less concentrated losses.
Exchanges followed their usual hierarchy, with Binance and Bybit jointly accounting for two-thirds of all forced closures, $112.21 million and $110.25 million, respectively. OKX and Gate trailed with $52 million and $34 million.
Long exposure dominated most venues, particularly on BitMEX and Bybit, where over 80% of liquidations were longs. Bitfinex was the only exception, skewing toward short liquidations, likely reflecting a different trader profile, typically lower leverage, and discretionary directional bets.
Table showing liquidations across exchanges on June 12, 2025, 7:00 A.M. UTC (Source: CoinGlass)
The largest single liquidation, a $2.15 million BTCUSD-PERP order on Binance, suggests one-sided positioning ahead of a price swing.
This continues a broader pattern seen in recent weeks where traders loaded into long positions during periods of low volatility, leaving them vulnerable to sudden downside moves.
GIPHY App Key not set. Please check settings