Cryptocurrency liquidations surge amid market volatility

Cryptocurrency liquidations saw significant activity on October 10, with reports indicating massive forced closures across derivatives markets. One report noted that liquidations reached $45.7 million in a 24-hour period ending at 8:04 p.m. ET, with short positions accounting for 69% ($31.4 million) of the total. Binance recorded $35.4 million in liquidations, followed by OKX with $7.2 million and Bybit with $3.2 million.

Asset-specific data showed Ether (ETH) leading liquidations at $5.2 million, while Bitcoin (BTC) totaled $3.5 million. Other notable liquidations included STRK, MAGIC, NEAR, and Solana (SOL).

Unconfirmed reports have circulated suggesting that total liquidations for October 10 may have surpassed $19 billion in a single day. However, this figure lacks a confirmed source breakdown or auditable methodology, and totals can vary significantly depending on whether data aggregators capture self-reported exchange data or estimated fills.