Crypto Market Liquidations Hit $608M as Ether Longs Unwind

Key Facts

1Total crypto market liquidations reached $608 million as Ether prices declined.

2Binance recorded a single liquidation hit of $26.64 million.

Total crypto market liquidations reached $608 million on October 7, 2026, as Ether prices declined. Crypto Briefing reported that long positions accounted for approximately $545 million of the total, while short positions made up only about $64 million, highlighting a significant imbalance triggered by sudden price volatility.

Binance recorded the largest single liquidation hit of $26.64 million on its ETHUSDC pair, with an estimated 106,000 accounts affected during the event. Most of the liquidation activity was concentrated in perpetual futures markets on Binance, Bybit, and OKX, as the drop in asset prices forced the closure of leveraged long positions.