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News/Nov 6, 2026/Markets

About $1.1B of crypto leverage was wiped out in 24 hours, most of it in a four-hour burst

Markets✓ 2 sources verified

CoinGlass data reported by The Block showed $1.09 billion in liquidations over 24 hours, hitting about 211,000 traders. Roughly $880 million of that came in four hours, including $818.90 million of longs against $61.02 million of shorts. CoinDesk, citing Coinalyze, said aggregate bitcoin futures open interest fell below $26 billion, its lowest since mid-September.

Why it mattersA long-heavy flush clears out over-extended positions, which can make the next move less fragile, but only if open interest does not rebuild at once.
Two bars showing the four-hour liquidation burst on Nov 5: about $818.90 million of long positions versus $61.02 million of shorts, roughly $879.92 million in total.
Data: CoinGlass, as reported by The Block. Four-hour burst on Nov 5: $818.90M longs, $61.02M shorts; 24-hour total about $1.09B across roughly 211,000 traders. Public liquidation figures can understate real totals. As of 6:10 AM ET Nov 6 (2026-11-06T11:10:00Z). · CoinGlass (via The Block) · as of 2026-11-06T06:10:00-05:00

Glossary

Liquidation
A forced close of a leveraged trade by the exchange when the trader's collateral can no longer cover losses.
Open interest (OI)
The total value of futures or perpetual contracts that are still open.
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News summary written by fadeCT from the linked reporting. Not financial advice. The fadeCT take, when present, is opinion.