$1.25 Billion in Crypto Positions Liquidated in 24 Hours

Key Facts

Crypto positions worth $1.25 billion were liquidated over 24 hours, with positions held by 239,119 traders closed, according to a report published by The Crypto Times on November 6. The wave came as Bitcoin traded at $75,649.64 in a snapshot at 06:00 UTC, down 6.0% over 24 hours. The cryptocurrency recorded a range of $75,229.51 to $80,721.32 over the same period. Liquidation figures showed that a large share of the forced closures affected positions betting on rising prices. The figures reflect the coincidence of a market decline with widespread liquidation of leveraged positions.

Liquidations of long positions totaled $1.11 billion, or 88.6% of the total, while short-position liquidations reached $141.87 million, the report said, citing CoinGlass data. Bitcoin was the asset most exposed to liquidations, with $329.57 million liquidated, including $297.88 million in long positions. Ethereum followed, with liquidations totaling $210.27 million, of which long positions accounted for 85.2%. These breakdowns show that the closures were not limited to the largest cryptocurrency but extended to other major assets. Most of the liquidated value was concentrated in bullish bets, alongside falling prices during the period covered.

The crypto selloff coincided with a bruising session for U.S. stocks on Thursday, November 5, with the Nasdaq Composite losing 5.5%, the S&P 500 falling 4.3% and the DJIA declining 3.4%, according to CoinDesk. Coverage described the session as the worst for U.S. stocks since the tariff announcements in April 2025. Analysts at FalconX and GSR linked the pressure to concerns that a political shift after the midterm elections could slow the construction of AI data centers. Shares of cryptocurrency mining companies fell between 15% and 20%, while stocks tied to digital assets declined by more than 10%. Simon-Peter Massabni, head of business development at broker XS.com, said asset managers may "liquidate alternative holdings to meet margin calls and reduce their positions."

Flows into U.S.-listed spot Bitcoin funds reversed direction over two consecutive days. The funds recorded net outflows of $430.2 million on Thursday, November 5, according to SoSoValue data cited by CoinDesk. FBTC led the outflows with $199.9 million, followed by IBIT with $105 million. The outflows followed inflows of $74.6 million into the funds on Wednesday, November 4. Net redemptions for the week through Thursday totaled $869.8 million, according to fund data cited in the report.

Bitcoin closed at $80,504.01 on November 4, then ended the November 5 session at $76,088.01, according to EL7 daily data. In a later development on Friday, November 6, the price moved back above $76,000 after falling below that level during Thursday's stock selloff, CoinDesk reported. Bitcoin remained down more than 5.3% over 24 hours, while the CoinDesk 20 Index lost about 6.28% over the same period, the report said. Among other risky assets, the Nasdaq fell 5.5%, the S&P 500 declined 4.4% and the Dow Jones dropped 3.4% on Thursday, while the Philadelphia Semiconductor Index fell 12%, according to Reuters via Investing.com. Reuters estimated that about $2 trillion had been wiped from Nasdaq's market value during the session and that the index had fallen 14% from its record high reached a month earlier.

Risk aversion spread to Asian markets on Friday, November 6, with the Nikkei 225 falling 6.0% to 57,434.77 and the Kospi declining 6.0% to 5,059.69, according to the Associated Press. In the U.S. interest-rate market, traders pushed back their expectations for the Federal Reserve's next rate increase to March, as short-term U.S. yields fell 12 basis points, according to Reuters. The U.S. Bureau of Labor Statistics had set November 6 as the release date for its October jobs report, at 08:30 a.m. Eastern time. The October Consumer Price Index was also scheduled for release on November 10 at 08:30 a.m. Eastern time. These dates are part of the economic data calendar markets are following after the selloff in stocks and cryptocurrencies.