Short sellers saw a world of pain as Bitcoin (CRYPTO: BTC) surged above $44,000 on Tuesday, gaining 15% in the last 24 hours.
What Happened: According to data from CoinGlass, crypto liquidations over a 24-hour period exceeded $325 million at the time of writing.
A total of 68,736 traders were liquidated, with the majority being in short positions or betting on lower prices.
The single largest liquidation order took place on Binance with a Theta Network (CRYPTO: THETA)/ USDT trading pair, where the trader lost $11.08 million in a single trade. THETA is up an impressive 19% in the last 24 hours.
Over 81% of traders liquidated in the last day across crypto exchanges were in short positions. Crypto exchange OKX saw the largest number of liquidations, with $119.36 million shorts liquidated and $16 million long positions liquidated.
Total BTC liquidations in the last day exceeded $158.26 million, followed by Ethereum (CRYPTO: ETH) which saw $63 million liquidated. Terra (CRYPTO: LUNA) saw $15.43 million in liquidations after rising 22.35% over the last day.