TL;DR
- Cryptocurrency markets recorded nearly $418 million in long liquidations as Bitcoin fell 4.26% and Ethereum dropped 5.53% over 24 hours.
- Total liquidations reached $458.05 million, with bullish positions accounting for 91.2% of losses and Binance representing 43.5% of the total.
- U.S. spot Bitcoin ETFs attracted $528.40 million in net inflows on October 21, signaling continued institutional demand despite falling cryptocurrency prices.
Bitcoin and Ethereum extended their declines on October 22 as crypto long liquidations approached $418 million, putting leveraged traders under significant pressure. CoinGlass data showed that total liquidations reached $458.05 million over 24 hours, with bullish positions accounting for the overwhelming majority of forced closures.
Bitcoin traded at $81,018.49, down 4.26%, while Ethereum fell 5.53% to $2,374.45, according to CoinMarketCap. Meanwhile, the total cryptocurrency market capitalization declined 2.26% to $2.71 trillion, reflecting broad selling pressure across digital assets.
Crypto Long Liquidations Hit Bitcoin And Ethereum Traders
The liquidation data revealed the scale of losses among traders betting on a market rebound. Long positions accounted for $417.93 million in forced closures, compared with $40.11 million in short liquidations. More than 103,000 traders faced liquidations during the period, while Binance represented 43.5% of the total.
Losses accumulated rapidly throughout the day. Long liquidations reached $153.58 million over four hours and climbed to $278.37 million over 12 hours, showing how quickly leveraged bullish positions came under pressure as prices declined.
Bitcoin-related liquidations totaled $140.62 million, with long positions representing 96.6% of that amount. Ethereum followed with $93.12 million in liquidations, of which 91.6% involved bullish positions. The largest individual liquidation was an $11.78 million BTCUSDT long position on Binance, executed around $83,526.24, according to CoinGlass.
Other cryptocurrencies also experienced significant forced closures. Zcash recorded $12.44 million in liquidations, Solana registered $11.29 million, and XRP reached $7.47 million. These figures illustrate how leverage can amplify losses across multiple digital asset markets when prices move against traders.
Bitcoin ETF Inflows Offer A Counterpoint To Market Weakness
Despite the sell-off, institutional investment data provided a more constructive signal. U.S. spot Bitcoin exchange-traded funds recorded $528.40 million in net inflows on October 21, according to SoSoValue. BlackRock’s IBIT attracted $234.99 million, while Fidelity’s FBTC received $212.71 million.
Spot Ethereum ETFs also registered $14.96 million in net inflows during the same session, although individual funds posted mixed results. These figures suggest that ETF demand persisted even as cryptocurrency prices weakened, offering a different perspective on market activity.
