Recently, a whale liquidation wave in the crypto market: short positions liquidations far exceed long positions

ponzi_poet · 2026-02-16T13:08:02+00:00

Recently, there has been a large-scale whale liquidation event in the crypto derivatives market, with total liquidations across the entire network reaching $303 million within 24 hours, involving over 100,000 people. The amount of short positions liquidated far exceeds that of long positions, reflecting an imbalanced market structure. The largest single liquidation occurred on the decentralized exchange Hyperliquid, with an amount of $30.38 million.

ponzi_poet

2026-02-16 13:08:02

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According to the latest monitoring by Coinglass, a large-scale whale liquidation event has occurred in the crypto derivatives market. This wave of forced liquidations has affected over 100,000 traders worldwide, demonstrating the intense market volatility.

Total Liquidation Volume Hits New Record

In the past 24 hours, the total amount liquidated across the network reached $303 million, involving 105,156 traders. Of these, $149 million was liquidated in just the past hour alone, highlighting the extreme short-term market fluctuations. These whale liquidations occurred in a short period, indicating that market participants’ judgments on price movements have significantly diverged.

Short Positions Liquidated Much More Than Longs: Market Structure Imbalance

During this liquidation wave, short positions accounted for $146 million, while long positions were only liquidated for $2.74 million. The scale of short position liquidations is nearly 50 times that of longs, reflecting a severe blow to the short-selling forces in the market and possibly signaling a short-term correction of bearish sentiment.

Decentralized Exchanges Become the Largest Single Liquidation Venue

Data from Coinglass shows that the largest single liquidation occurred on Hyperliquid’s ETH-USD trading pair, with an amount of $30.38 million. This massive liquidation highlights the risk concentration of large positions on decentralized derivatives exchanges and also reflects the liquidation pressure faced by whale-level traders during intense market volatility.

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