Cryptocurrency Futures Liquidations Hit $250 Million in 12 Hours…Shorts at 71%

Over the past 12 hours, total cryptocurrency futures liquidations amounted to approximately $250 million (KRW 335.8 billion). Short position liquidations totaled $178 million (KRW 239.1 billion), representing about 71.2% of the total. CoinGlass reported this data at 9:38 a.m. KST on May 15.

Long position liquidations during the same period were $71.47 million (KRW 96 billion). Ethereum (ETH) related liquidations accounted for the largest share at $111 million (KRW 149.1 billion), followed by Bitcoin (BTC) with $59.58 million (KRW 80 billion). Combined, ETH and BTC liquidations totaled approximately $170.6 million, or about 68.2% of the total.

Short position liquidations were roughly 2.5 times higher than long positions. Short positions are bets on price declines; if prices move against them or margin requirements are not met, exchanges forcibly close these positions. This trend mirrors a previous 12-hour period where short liquidations also dominated.