Crypto traders saw $795 million in liquidations over 24 hours as Bitcoin (BTC) climbed 5.7% to $85,042, with short positions accounting for about $667.7 million of the forced closures, according to CoinGlass data (on September 21 at 13:45 UTC).
The liquidations involved 119,007 traders, while Bitcoin rose from around $81,000 to a 24-hour high of $85,386 before easing slightly. The move left short sellers bearing the majority of the losses as the market moved higher.
Short positions account for most liquidations
According to Coinglass data (on September 21 at 13:45 UTC), short liquidations totaled $667.68 million, or about 84% of all positions liquidated during the period. Long liquidations stood at $127.33 million.
The concentration of losses in short positions increased as Bitcoin moved higher, particularly during the latest 12-hour period.
| Period | Total Liquidations | Longs | Shorts |
|---|---|---|---|
| 1 hour | $17.09M | $6.78M | $10.31M |
| 4 hours | $134.59M | $55.43M | $79.16M |
| 12 hours | $597.15M | $93.40M | $503.75M |
Short liquidations reached $503.75 million over 12 hours, compared with $93.40 million in long liquidations. The largest single liquidation order was a $11.29 million BTCUSDT position on Binance, according to CoinGlass.
Bitcoin breaks above $85,000
According to data from CoinGecko (on September 21 at 13:45 UTC), Bitcoin traded at $85,042.41, up 5.7% over 24 hours. It moved between $80,413.83 and $85,386.47 during the period. The cryptocurrency’s market capitalization stood at about $1.71 trillion, while 24-hour trading volume reached $46.03 billion.
The move accelerated late in the period, with Bitcoin rising from around $81,000 to above $85,300 before consolidating near the $85,000 level.
Ethereum follows Bitcoin higher
According to data from CoinGecko (on September 21 at 13:45 UTC), Ethereum (ETH) also gained 5.6% over 24 hours to $2,722.09, after trading as low as $2,574.98 and as high as $2,743.61. ETH’s market capitalization stood at roughly $332.3 billion, with $21.74 billion in 24-hour trading volume. The ETH/BTC ratio was 0.032, down 0.2%.
The broader move in major cryptocurrencies came alongside the sharp increase in leveraged-position liquidations.
Bitcoin and Ethereum lead market activity
CoinGlass data (on September 21 at 13:45 UTC) showed $3.74 million in ETH liquidations and $3.71 million in BTC liquidations in the asset-level breakdown provided, followed by $2.08 million in Solana positions and $1.25 million across other assets.
The figures reflect positions that were forcibly closed as leveraged traders failed to maintain required margin levels.
With Bitcoin moving higher, the liquidation data shows that short positions bore most of the immediate impact during the rally, while long liquidations remained comparatively smaller.
