How much leverage just got flushed out? Live long and short Bitcoin liquidations across all exchanges, with a 30-day history.
A liquidation is a forced close: when a leveraged trader's margin runs out because the market moved against them, the exchange automatically sells (or buys back) their position. Long liquidations happen when price drops and over-leveraged bulls get wiped out; short liquidations happen when price rises and bears get squeezed. The totals above aggregate every major exchange for the most recent settled day.
Forced closes push price in the same direction as the move that caused them, which can snowball into a cascade: a dip liquidates longs → those forced sells drive price lower → more longs liquidate. That reflexivity is why leverage flushes are often violent and short-lived. Historically, an outsized long-liquidation day marks a local washout bottom (weak hands cleared out), while a big short-liquidation day marks a short squeeze near local tops.
Quiet, balanced liquidations suggest leverage is modest and positioning is two-sided. Repeated large one-sided liquidations — especially longs — signal a crowded, over-leveraged market that's vulnerable to a deleveraging event. Pair this with funding rates and long/short positioning for the full derivatives picture.
Note: this page reports daily aggregate liquidation totals. Intraday liquidation heatmaps (the exact price levels where clusters of stops sit) require sub-daily data and are not shown here.