$1.15 Billion in Liquidations Hit Crypto Market on November 9
Key Facts
Crypto market liquidations exceeded $1.15 billion over 24 hours in the November 9, 2026 wave, according to CoinGlass data cited by The Block. Long positions accounted for $1.04 billion in liquidations, compared with $117 million for short positions, a split reflecting the concentration of forced closures in bullish bets. CoinGlass recorded the liquidation of positions held by 167,764 traders during the period covered by the report. Bitcoin briefly fell below $74,000 on Monday morning, coinciding with the liquidation wave. The figures highlight the pressure faced by leveraged positions during the market decline.
Pressure extended to the two largest cryptocurrencies by market capitalization, with Ether position liquidations exceeding $500 million, compared with about $309 million for Bitcoin, according to data reported by The Block. The largest single liquidation was a $48.2 million long position in the ETH-USDT pair on Binance. The transaction shows that losses were not limited to a large number of small positions, but also involved a major long position. Ether liquidations exceeded Bitcoin liquidations in the snapshot cited by the report. These figures remain tied to the period monitored by the source, as they were reported as a point-in-time liquidation snapshot.
In trading on Sunday, November 8, Bitcoin fell more than 2% to $73,708, its lowest level since August, according to a Reuters report published via Investing.com. Ether fell about 5% to $2,223, also marking its lowest level since August. The decline came in a sell-off across major cryptocurrencies, while the report cited investor concerns about tighter U.S. regulation after the midterm elections. Reuters linked the concern to the possibility of stricter rules under Democratic control of Congress. It also said crypto markets had been shaken in previous sessions by a $6 billion theft targeting Binance.
SHIB saw an increase in trading activity during the downturn, but higher trading volume alone does not establish an upward price trend. In EL7 data, SHIB closed at $0.00000437 on November 8, compared with a close of $0.0000045 on November 7. This puts the increase in activity in the context of volatile trading, rather than treating it as standalone evidence of price improvement. The move coincided with a broader wave of market liquidations, though the data do not establish that the wave caused the increase in trading activity.
In a later update on Monday, November 9, Reuters said Bitcoin rose 0.7% to $74,559 after touching its lowest levels in more than two months. The report said regulatory concerns persisted during the limited recovery. The move followed Bitcoin's decline to $73,708 in Sunday's trading, according to the earlier Reuters report. The two snapshots show the sequence of the decline followed by a partial rebound over the sessions, while the liquidation wave and market downturn remained the focus of developments covered in the November 9 report.