Bitcoin (BTC) Leads $128.73 Million in Crypto Liquidations Over 24 Hours

$128.73 Million Cleared in 24 Hours

Crypto derivatives markets wiped out roughly $128.73 million in leveraged positions over the past 24 hours, according to trading volume-weighted liquidation data covering the top 20 assets as of 08:41 UTC on September 1. The dataset offers no earlier benchmark from the same aggregation, so the total stands on its own terms — neither an exceptional flush nor a quiet session can be claimed from the figure alone. Its composition is the more revealing part. Short positions accounted for 61.07% of everything closed, roughly 1.6 times the long-side share: longs absorbed $50.12 million in forced closures against $78.62 million for shorts. That skew tells a specific story. A liquidation is the forced closure of a leveraged position when margin no longer covers potential losses, and on a gently rising tape it is the bearish side that gets squeezed. Bitcoin (BTC) slipped just 0.34% to $77,894 over the window while Ethereum (ETH) added 0.57% to $2,452 — precisely the kind of sideways-to-higher drift that forces shorts to cover, rather than a sell-off that punishes longs. Orders of this kind execute into whatever liquidity is available at the moment of closure, and fills in thin order books can carry meaningful slippage, which is one reason aggregated totals tend to understate the true cost to traders. Other majors stayed similarly contained: Solana (SOL) eased 0.62%, Hyperliquid (HYPE) gained 2.13%, XRP slipped 0.24% and Zcash (ZEC) rose 1.76%. None of those moves resembles a directional breakout; together with the short-heavy split, they sketch a market in which crowded bearish bets were unwound by small gains. Liquidations cluster where activity is deepest, which is why the largest names dominate the total — and where that exposure sits is the subject of the per-asset breakdown.

Bitcoin carried the largest single tally of any asset, with $54.83 million liquidated over the window — and again the skew ran against shorts, who supplied 63% of that figure. Ethereum followed at $37.28 million, where the tilt was even sharper: 72% of its liquidations were short positions. Combined, the two largest assets account for roughly $92.11 million, or about 72% of the aggregate, underlining how concentrated deleveraging remains in the deepest perpetual markets. The tail of the table is more varied. Solana saw $8.09 million in liquidations, the only large name where longs held the majority at 51%. SanDisk (SNDK), one of the few traditional tickers in the dataset, registered $6.79 million with shorts at 57%. Zcash followed at $3.82 million, 70% of it short-side, while gold (XAU) printed $3.66 million that ran heavily the other way — 88% longs. XRP saw $3.37 million with longs at 61%, and Hyperliquid closed the list at $2.55 million, 69% of it shorts. The presence of a gold contract and a semiconductor equity among crypto majors shows how broad these aggregates have become, spanning assets far beyond blockchain markets. A note on scope: the figures are drawn from the aggregated top-20 liquidation table rather than total market exposure, prices are referenced to CoinMarketCap quotes, and settlement-level accounting differs across venues and products — so other trackers may report different totals for the same window. Exchange-level liquidation data for shorter intervals shows the same concentration, with the bulk of activity on the largest perpetual venues. For traders sizing leverage, forced-closure mechanics and venue rules matter as much as direction; our comparison of the best crypto exchanges covers how liquidation engines and margin tiers differ across major platforms. Readers tracking the market in real time can follow live spot and futures prices on Bybit.

Shorts Carried the Flush

COINOTAG's read: the number that matters here is not the $128.73 million total but its 61.07% short share. A flush driven almost two-to-one by squeezed bears, against spot prices that barely moved — Bitcoin down 0.34%, Ethereum up 0.57% — is a leverage reset, not a trend event. Short-heavy squeezes of this shape typically clear positioning without transferring damage to spot holders, and the per-asset data agrees: Bitcoin and Ethereum, the two deepest markets, absorbed roughly 72% of the total while smaller names saw mixed long-short splits. Until the long side reclaims the majority of closures, the data describes bearish deleveraging, not distribution.