UPDATE: Crypto market liquidations reach up to $1.19 billion as total market cap drops
CIE News ·
Updated data shows up to $1.19 billion in crypto positions liquidated across 187,900 accounts, sending total market capitalization below $2.8 trillion after an initial flush.
Crypto derivatives liquidations reached between $1.1 billion and $1.19 billion across a 24-hour period, with 166,000 to 187,900 accounts wiped out. As previously reported, Bitcoin (BTC) dropped sharply below $81,000 to an intraday low of $80,507 on October 8, 2026, setting off the marketwide unwind. The expanded flush drove the total crypto market capitalization down by over 3.3%, dropping below $2.8 trillion.
Long positions made up the bulk of the forced closures, totaling between $933 million and $1.05 billion. The liquidations were concentrated across exchanges including Binance, Bybit, OKX, and Hyperliquid, with CryptoSlate reporting that the largest single liquidation occurred on Hyperliquid through a $20 million ETH-USD position.
According to CryptoSlate, Ethereum (ETH) recorded about $324 million in liquidations, while Bitcoin.com News reported total ether liquidations reached $333 million. Bitcoin-related forced sales accounted for roughly $240 million to $270 million in losses over the period.