Over $900M in Positions Wiped Out Overnight: 206,000+ Traders Caught in Market Washout

The crypto market experienced a brutal liquidation cascade on August 26, with liquidation data from Coinglass revealing the extent of the damage across the repost network. In just 24 hours, traders collectively lost nearly $904 million in wiped positions, underscoring the volatility that continues to plague leveraged trading strategies.

The liquidation breakdown tells a stark story: long position liquidations accounted for the lion’s share at $818 million, indicating that bullish bets turned catastrophic as price pressure mounted. Meanwhile, over 206,571 traders globally found their positions force-closed during this period, highlighting how quickly market swings can trigger cascade liquidations.

The most severe single liquidation hit the HTX exchange’s BTC-USDT trading pair, where one trader faced a $39.2448 million wipeout—a staggering figure that underscores the risks inherent in large leveraged positions. With Bitcoin’s (BTC) 24-hour trading volume reaching $1.10B, the underlying asset volatility clearly fueled this liquidation event.

This repost network-wide liquidation event serves as another reminder that while leverage can amplify profits during favorable market conditions, it equally magnifies losses when momentum reverses. Traders operating across multiple platforms continue to face significant execution risks, particularly during periods of elevated volatility.