Ethereum shorts hit hard with $42.33 million in liquidations amid price surge

Over the last 24 hours, 02,086 traders were liquidated for a combined $258.34 million in losses. The single largest wipe‑out hit Bybit’s ETH/USDT market for $2.65 million.

Over 12 hours, liquidations surged to $126.18 million, $60.01 million of longs versus $66.17 million of shorts, while the whole 24‑hour cycle broke down into $138.03 million of long liquidations against $120.31 million of shorts.

Ethereum led all tokens in that 12‑hour window, making up $42.33 million of the $126.18 million total, and it was mostly ETH shorts that were closed out. Bitcoin trailed at $33.24 million, and every other asset combined for under $12 million. By comparison, on the day’s total, over 76% of liquidations were long positions on average across major assets.

Total liquidations across the crypto derivatives market on April 22, 2025 (Source: CoinGlass)

Ethereum’s rise contrasts sharply with these losses, which is why its shorts were decimated in the past 12 hours. ETH climbed from $1,579.52 on April 21 to $1,629.86 on April 22, up roughly 3.2 percent.

The rally triggered margin calls on short bets, driving the bulk of those $42.33 million in ETH liquidations. Bitcoin also increased 1.1 percent to $88,324.30 but saw $29.96 million of its longs and $57.65 million of shorts liquidated over 24 hours, showing how both sides of the market have been vulnerable.

Ethereum’s price on April 22, 2025 (Source: CryptoSlate ETH)

Liquidation data from CoinGlass shows that high leverage can backfire during price swings, no matter how minor they might feel. This is particularly evident with Ethereum, where short squeezes and stop‑hunts have dominated recent liquidations.

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