As Bitcoin (BTC) and Ethereum (ETH) led the broader cryptocurrency industry in a sell-off over the past 24 hours, driven by hotter-than-expected United States inflation data, total crypto liquidations soared on October 15, 2026, by nearly 600% to about $1 billion.
The total crypto liquidations over the past 24 hours were $973,025,069, up more than 588% on the day, according to data Finbold analyzed from CoinGlass, a cryptocurrency derivatives data platform that tracks liquidations and futures activity across major exchanges.
As of press time, long positions account for over $894 million of today’s total crypto liquidations, compared with roughly $78.52 million in shorts. Ethereum and Bitcoin topped crypto liquidations today, with more than $292 million and $200 million wiped out, respectively.
Over the past 24 hours, Binance led all cryptocurrency exchanges in total liquidations, reporting $515.12 million at the time of publication. Hyperliquid and Bybit had registered a 24-hour total liquidation of $141.14 million and $101.12 million, respectively.
Heightened crypto liquidations crash market capitalization
Amid increased cryptocurrency liquidations today, the total crypto market cap declined by about 2.7% to $2.81 trillion, as per metrics from CoinGecko, a cryptocurrency market data platform that tracks prices, market capitalization, and trading volume. The sell-off triggered a long squeeze, as falling prices forced leveraged long positions to close, adding further selling pressure.
Even though the crypto market cap declined today, its total trading volume had surged by 49% to $111 billion at the time of reporting.
What’s next for cryptocurrencies?
Despite the traditionally bullish ‘Uptober’ narrative, analysts remain optimistic on Bitcoin and the broader space, as Finbold highlighted.
Among the bullish voices is Citi, which recently raised its 12-month targets to $113,000 for Bitcoin and $3,028 for Ether on October 1, citing stronger activity, a supportive macro backdrop, and exchange-traded fund (ETF) inflows.
However, with inflation running hotter than expected and markets again pricing in the possibility of further Federal Reserve tightening, near-term volatility is likely to remain elevated.
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