UPDATE: Crypto liquidations climb past $690M as sell-off deepens
CIE News ·
Updated data shows crypto derivative liquidations climbed to between $550M and $696M on October 7, 2026, driven by macroeconomic pressure and rising yields.
Crypto derivative exchanges saw total 24-hour liquidations surge between $550 million and $696 million on October 7, 2026, as macroeconomic pressures from rising crude oil prices and Treasury yields triggered a sharp sell-off across digital assets. As previously reported, a leverage flush wiped out hundreds of millions of dollars in speculative positions as prices pulled back.
Long positions bore the bulk of the damage, accounting for $637 million to $644 million of the liquidations, while short positions saw $52 million wiped out, according to CoinGlass. Bitcoin (BTC) accounted for $140 million to $175 million in forced closures after falling to an intraday low of $82,734, while Ethereum (ETH) saw between $174 million and $232.67 million in liquidations as its price dropped to a session low of $2,553.64.
Bitcoin.com reported that roughly $300 million in long positions were liquidated within an hour as the BTC price broke below the $84,000 level. Open interest held steady across perpetual venues despite the closures, pointing to fresh short positions entering the market.