Long Positions Hit Hard as Crypto Liquidations Surge Across Major Exchanges: Up to $870.95M Wiped

2026-2-6 16:00

A new round of crypto liquidations was observed on the cryptocurrency market in the last 24 hours, as the volatility of the key digital assets increased. Phoenix Group data indicate that 176,545 traders were wiped out over the period, highlighting the magnitude of leveraged exposure wiped out, as prices moved with force. Centralized platforms and derivatives-centric platforms were also active, and most of the losses were incurred in long positions.

LIQUIDATION DATA IN 24 HOURS

TOTAL LIQUIDATIONS: UP TO $870.95M

TOP 5 COINS WITH HIGHEST LIQUIDATION: $BTC ~ $414.91M… pic.twitter.com/bdD80iORlo

— PHOENIX – Crypto News & Analytics (@pnxgrp) February 5, 2026

Liquidation occurred on February 5, 2026, with traders responding to quick price moves within the day in Bitcoin, Ethereum, and other high-cap altcoins. The market trends were inclined towards downward pressure, which led to an imbalanced long liquidation in almost all the exchanges that were being tracked.

Long Positions Dominate Crypto Exchange Liquidations

In exchanges, the real majority of liquidated trades were long position trades. Hyperliquid had $198.73 million liquidations, of which 88.46% consisted of longs and only 11.54% of shorts. Bybit was next with $178.49 million and long liquidations accounted to 85.37% of the total as compared to 14.63% shorts.

Binance had total liquidations of $150.39 million, including 72.78% longs and 27.22% shorts. Bitget liquidated $99.86 million, comprising of 79.36% long and 20.64% short. OKX registered $75.45 million with long positions comprising 69.79% and shorts 30.21%.

Gate had recorded $63.17 million liquidations, 78.12% of which were longs, whereas HTX recorded 57.26 million liquidations, of which 87.71% were long and 12.29% short liquidations. The least total tracked exchanges were Aster at $26.20 million, but a majority of exchanges were long with 94.81% to 5.19% shorts.

Bitcoin Leads Asset Liquidations by a Wide Margin

Bitcoin became the most liquidated asset with the total liquidations amounting to $414.91 million, which is about 5.79 thousand BTC. The magnitude of Bitcoin liquidations underscores the effects of leveraged positions on the biggest cryptocurrency at times of sudden price action.

The second most affected was Ethereum, which incurred the liquidations of $218.54 million, which is approximately 102.21 thousand ETH. Solana was third, with $73.76 million liquidated, equivalent to approximately 798.61 thousand SOL, as one of the assets that has maintained its high-volatility place in the current market cycle.

Altcoins Also Face Significant Forced Closures

In addition to the top assets, other altcoins had significant volumes of liquidation. XRP registered $21.10 million liquidations which amount to about 14.75 million XRP. Dogecoin came in next with $7.47 million or approximately 73.23 million DOGE and Zcash with $5.78 million or approximately 23.21 million ZEC.

Binance coin has suffered liquidation of $4.99 million worth, equivalent to about 7.17 thousand BNB. River registered the amount of $3.46 million, or 251.27 thousand RIVER and Cardano registered $2.71 million which is approximately 9.60 million ADA.

Other assets also led to the wider wave of liquidation such as ARC, which had $1.75 million liquidated, equivalent to about 24.78 million ARC. PUMP was next with a $1.72 million in liquidations, and then Chainlink was at $1.37 million in liquidations, which is approximately 150.05 thousand LINK.

Largest Single Crypto Liquidation Highlights Risk Exposure

The biggest order in the 24 hours period to go through liquidation was on the Aster exchange. A BTCUSDT amount was forced to close at $11.36 million, which is one of the examples of the magnitude of the risk an individual has to take in the crypto market. These massive liquidations tend to increase the speed of price movements through cascading margin calls.

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