Crypto exchanges closed about USD 803 million in leveraged positions over 24 hours in an early Tuesday, October 13, snapshot, as South Korean chip stocks plunged and Bitcoin briefly fell below USD 81,000.
Futures linked to U.S. memory-chip maker SanDisk recorded more liquidations than XRP, despite cryptocurrency contracts leading overall losses. Bitcoin later recovered toward USD 84,000, but selling orders remained concentrated near that level.
Crypto liquidations reach USD 803 million across 10 exchanges
CoinGlass data showed USD 694 million in long-position liquidations, representing 86% of the daily total. Long positions are bets that prices will rise. Exchanges close these trades when losses exhaust the collateral supporting borrowed funds. The figures covered 172,113 traders across 10 exchanges, with most forced closures concentrated in a short period of heavy trading.
About USD 595 million in positions were closed within 12 hours. Bitcoin accounted for USD 181 million in liquidations, followed by Ether at USD 178 million and Solana at USD 60 million.
Zcash and NEAR recorded USD 24 million and USD 22 million, respectively. Binance handled about half the total, including a USD 9.65 million Bitcoin position closed near USD 81,773, the largest individual liquidation in the reported window.
SanDisk futures surpass XRP as Asian semiconductor shares fall
SanDisk-linked perpetual futures suffered USD 19.09 million in liquidations, compared with USD 19.04 million for HYPE and USD 18.78 million for XRP. These contracts track price movements without giving traders direct ownership of the underlying shares.
Such stock perpetual futures allow round-the-clock trading and have no set expiry date. The comparison reflects forced closures, not the total trading volume of each asset.
Contracts tied to SK Hynix and Micron also appeared among the losses. SOXL, a U.S. fund offering triple-leveraged exposure to semiconductor shares, recorded USD 7.21 million in liquidations.
Meanwhile, South Korea's KOSPI fell more than 6% intraday before narrowing its loss. Samsung Electronics dropped about 7.4%, while SK Hynix declined around 10% amid concerns about Chinese competition and AI-related valuations. The KOSPI also fell below its 200-day moving average during the selloff.
Bitcoin price rebounds but faces resistance near USD 84,000
Bitcoin recovered from just below USD 81,000 to reach USD 83,944 on Bitstamp, gaining more than 2.5% during Tuesday's rebound. However, CoinGlass liquidation heatmap data showed a concentration of sell-side liquidity near USD 84,000. That area limited further gains during the period covered by the market snapshot. Earlier Bitcoin price analysis identified resistance near USD 84,400 as another barrier to gains.
The rebound also reversed the pattern of forced closures. Of USD 74 million liquidated over a later four-hour window, USD 59 million came from short positions, or bets on falling prices.
Separately, Farside Investors recorded USD 65.4 million in U.S. spot Bitcoin ETF outflows on October 12, bringing October's net withdrawals to about USD 452 million. Those fund flows show that Bitcoin's recovery occurred despite withdrawals from U.S. investment products.
U.S. inflation data and oil markets remain in focus
Crude oil contracts moved differently from most cryptocurrency positions. WTI and Brent futures recorded more short liquidations than long liquidations during the earlier snapshot. Brent traded near USD 106 after a three-day rally, although prices later eased.
Meanwhile, oil futures remained among the few contracts showing a clear tilt toward short liquidations.
The U.S. Bureau of Labor Statistics scheduled September's consumer inflation release for Wednesday, October 14, at 8:30 a.m. Eastern Time. Producer inflation data follows on Thursday, October 15.
The Federal Reserve lists October 27–28 for its next policy meeting, giving markets two further economic updates after Tuesday's liquidation wave. Both releases will arrive before the central bank's next interest rate decision.
ALSO READ: JPMorgan Chase vs Bank of America: Which Banking Stock is More Attractive?