Crypto Market Mid-February Sees Explosive Long and Short Liquidations, 24-Hour Liquidation Volume Breaks $300 Million

In mid-February, the cryptocurrency market experienced a severe shakeout. According to industry data platforms, the total forced liquidation amount across the entire network in just one day reached $341 million, reflecting the intense market volatility. Both long and short investors were affected in this round—liquidations of long and short positions were roughly equal, at $166 million and $175 million respectively, presenting a rare “double liquidation” scenario.

BTC and ETH Hit Hardest, Single Losses Reach Tens of Millions

Among all liquidation events, Bitcoin and Ethereum were the most affected. BTC’s liquidation amount reached $163 million, nearly half of the total liquidation scale, while ETH’s liquidation totaled approximately $80.1 million. These two major cryptocurrencies bore the brunt of the market turbulence. Notably, the largest single liquidation involved a $10 million position in the BTC-USD trading pair, indicating that large positions still carry significant liquidation risks.

Nearly 10,000 Traders Liquidated, Market Risks Reemerge

From the participant perspective, this round of liquidations had a wide impact—over the past 24 hours, 99,549 positions were forcibly closed. This figure indicates a large number of risk exposures lacking effective management in the market. Whether due to high leverage or improper stop-loss settings, rapid market fluctuations can trigger chain reactions of liquidations, ultimately leading to large-scale forced liquidations.

This wave of liquidations in the crypto market serves as a reminder to investors that risk management and position size control are crucial in highly volatile markets. Liquidations are not isolated incidents but a normal risk that market participants must remain vigilant against.