Bitcoin’s brief volatility triggers liquidations: $466 milli
On the afternoon of November 4, 2026, CoinGlass data showed that $466 million was liquidated across the entire network in the past hour, with short liquidations at about $379 million, accounting for roughly 81.3%. Two media outlets reported the total liquidations over the past 24 hours as $903 million and $913 million respectively, both dominated by short liquidations, and both cited the same largest single liquidation: the ETH-USDT trading pair on HTX, worth about $37,999,100.
Event Timeline
- [11-04 15:21] $466 million liquidated across the network in the past hour, with short liquidations at about $379 million (Odaily)
- [11-04 15:30] $913 million in futures liquidations across the network in the past 24 hours, mainly shorts (PANews)
Background and Impact
On the afternoon of November 4, 2026, two media outlets successively cited CoinGlass data to report concentrated liquidations in the crypto futures market. Data published by Odaily at 15:21 showed that $466 million was liquidated across the network in the past hour, of which long liquidations were $87,016,000 and short liquidations were about $379 million, with short liquidations accounting for about 81.3%; within the same statistical period, the scale of short liquidations was clearly higher than that of longs. About nine minutes later, PANews' 15:30 report extended the statistical window to 24 hours, saying that over the past 24 hours futures liquidations across the crypto market totaled $913 million, of which long liquidations were $359 million and short liquidations were $554 million, mainly shorts.
On the 24-hour figures, the two reports differ in value. The data cited by Odaily put total liquidations at $903 million, of which long liquidations were $355 million and short liquidations were $548 million, with 115,731 people liquidated across the network; the corresponding figures given by PANews are $913 million, $359 million and $554 million. Neither report disclosed the specific cutoff time of the statistical window, nor explained the source of the discrepancy, so the reason for the divergence cannot currently be determined. What can be confirmed in common is that under the 24-hour measure, short liquidation amounts exceed long liquidation amounts, and the largest single liquidation in both cases occurred in the ETH-USDT trading pair on HTX, worth about $37,999,100. In addition, PANews separately listed the breakdown by asset: BTC liquidations totaled $396 million and ETH liquidations totaled $236 million.
Structurally, the core feature of this round of data is that short positions dominated the liquidations. Under the 1-hour measure, long liquidations were only $87,016,000, while short liquidations were about $379 million; under the 24-hour measure, both sets of data also show short liquidation amounts higher than long liquidation amounts. The largest single liquidation fell on ETH-USDT rather than a Bitcoin contract, indicating that Ethereum contracts were likewise part of the concentrated liquidations, even though in PANews' asset breakdown BTC's total liquidation amount was higher than ETH's. Liquidation data itself only describes the amount and direction of positions that were forcibly closed; it is not directly equivalent to the magnitude of price gains or losses, nor does it constitute any directional judgment.
It should be noted that liquidation data is rolling statistics, and the statistical window changes as time moves on, so data captured by different media at different times may show differences in totals and in the long/short structure; the 24-hour data in these two reports is such a case. Nodes to watch going forward include data updates from aggregator platforms such as CoinGlass, as well as explanations from relevant trading platforms regarding futures risk control and liquidation rules under extreme market conditions. For users who need to track such data, official entry points such as Huobi HTX registration/app download, Gate.io registration/app download, Bitget registration/app download, Binance registration/app download and OKX registration/app download are common channels for viewing real-time market and futures data on each platform.
FAQ
### Which assets and trading pairs were mainly affected by these liquidations?
Both reports point out that the largest single liquidation occurred in the ETH-USDT trading pair on HTX, worth about $37,999,100. PANews additionally provides a breakdown: BTC liquidations of $396 million and ETH liquidations of $236 million.
### Why do the two media outlets' 24-hour total liquidation figures differ?
Odaily cited $903 million and PANews cited $913 million, with slight differences in the long/short breakdown as well. Neither report specified the cutoff time of the statistical window, so the reason for the discrepancy remains unclear and CoinGlass's original data should be taken as the reference.
### What does it mean that short liquidations far exceeded long liquidations?
It only indicates that short positions accounted for a higher share of forcibly closed positions, with shorts accounting for about 81.3% under the 1-hour measure. Liquidation data describes the amount and direction of liquidations; it does not equal the magnitude of price gains or losses, nor does it constitute a judgment on subsequent market movements.