The total value of cryptocurrency liquidations surged to $1.23 billion within a 24-hour period, according to market data gathered by BeInCrypto. This sharp increase in forced position closures coincided with a 5.75% drop in overall crypto market capitalization, which fell to $2.33 trillion.
Long positions drive liquidations
Market intelligence reviewed by BeInCrypto revealed that long positions accounted for the vast majority of liquidations. These bullish leveraged trades, which bet on future price increases, contributed $1.02 billion of all liquidations—82.7% of the reported total. The analysis counted 163,631 individual traders liquidated over the period.
Among digital assets, Bitcoin-related liquidations totaled $637.24 million, with long positions representing 90.8%. Ethereum followed with $256.52 million in forced closures, of which 76.3% were longs. The largest single liquidation recorded was a short Ethereum position on Binance, closed at $1,979.21 and valued at $17.81 million.
During the busiest 12-hour stretch, approximately $1 billion in liquidations took place, as buyers endured swift liquidations following volatile price swings across top assets.
The subsequent 12 hours showed muted liquidation activity, with $233.07 million reported, alongside $41.01 million in the latest four-hour snapshot. These declining numbers indicate reduced pressure but do not confirm an end to the volatility.
Comparing market snapshots
Separate coverage from digital asset news provider The Block reported $1.47 billion in liquidations over its own 24-hour window, during which $1.31 billion stemmed from liquidated long trades. These figures reflect a different timeframe and should be considered distinct from BeInCrypto’s tally.
Bitcoin traded at $67,160 and Ethereum at $1,903.01, as of 09:13 UTC on November 14, according to CoinGecko. Both assets saw notable declines following the wave of liquidations.
| Asset | Price | 24-hour change | 7-day change |
|---|---|---|---|
| Bitcoin (BTC) | $67,160 | -2.33% | -11.96% |
| Ethereum (ETH) | $1,903.01 | -1.61% | -15.61% |
| Solana (SOL) | $75.52 | -5.43% | -16.59% |
| XRP | $0.9870 | -4.13% | -16.39% |
Further losses were recorded over the previous month, with Bitcoin and Ethereum both down double digits.
Market context and drivers
BeInCrypto classified the liquidations as forced closures of leveraged positions, most of which were longs. Analysts have not identified a single trigger behind the sell-off, but several factors contributed to the volatility. Rick Maeda, head of markets at Laevitas, stated that a leverage event followed Bitcoin breaking key technical levels. He noted that thin order books after the week’s US Consumer Price Index (CPI) announcement and an abundance of traders trying to catch the reversal fueled the cascade of liquidation events.
The US Bureau of Labor Statistics reported that US consumer prices rose 0.4% month over month in October, decelerating from September’s 0.6%. Core CPI, which excludes food and energy, rose 0.3% in the same period.
ETF activity also pointed to broader market unease, with net outflows of $1.28 billion reported in US spot Bitcoin ETFs in the preceding week.
Mini dictionary: Laevitas is a crypto analytics platform that provides real-time market data, options flow, and insights for professional and institutional traders.
Analysts pointed to uncertainty around key economic data and thin market liquidity as supporting conditions for the rapid wave of liquidations.
Bitcoin, Ethereum, and technical outlook
On November 14, Bitcoin stood at $67,623—down 3.70% in 24 hours and roughly $300 below its 200-week simple moving average. Ethereum’s price fell to $1,903.78, below an identified Fibonacci support at $1,920.51. The next marked support for Ethereum sits at $1,832.78. These levels represent technical indicators, not guaranteed price floors.
The Crypto Fear & Greed Index dropped to 13, signaling “Extreme Fear” among investors, although this index only reflects market sentiment and does not predict price movement.
BeInCrypto identified $66,000 to $67,000 as Bitcoin’s nearest support region, with further downside potentially leading to $62,300. Resistance in the recovery scenario was marked at the $75,000 level.
Events to watch
Upcoming decisions could affect sentiment in the crypto market. MSCI, a leading provider of investment indexes, is scheduled to remove Strategy from its benchmark products on November 30. Meanwhile, the US Federal Reserve’s next interest rate decision is expected on December 9. The potential impact from these events remains uncertain.
Analysts cautioned that the dip in liquidations during the latest reporting window does not confirm the end of downward pressure. Technical indicators, such as Bitcoin’s positioning relative to its 200-week average, remain closely watched by market participants.
