Key Takeaways
- Over $2.14 billion in bullish positions got liquidated (vs. just $466 million in shorts), with nearly 580,000 traders rekt in 24 hours.
- BTC led with $1.35 billion in liquidations, followed by ETH ($570 million) and SOL ($188 million). The single biggest hit was a $12 million BTC long on Binance.
- This slots into CoinGlass’s all-time top 10, behind events like the October 2025 U.S. tariff hike on China ($19.16B) and various 2021 crashes, but joins recent 2026 flushes (e.g., January 31 over-leveraged longs at $2.56B).
The crypto market just got hit with a brutal flush: total liquidations surged past $2.6 billion in the past 24 hours, according to CoinGlass data. This massive wipeout ranks as the 10th largest single-day liquidation event in crypto history, underscoring how over-leveraged the space had become amid the ongoing downturn.

Bitcoin (BTC) is trading around $64,880 (down over 8.6% in the last day and nearly 30% over the past 30 days), while Ethereum (ETH) sits at roughly $1,874 (down 11% daily and 42% monthly). The broader market has shed hundreds of billions in value recently, with altcoins like Solana (SOL) taking particularly heavy hits—SOL now hovering near $80 after sharp declines.

The liquidation heatmap paints a clear picture: BTC led the carnage with $1.35 billion in forced closures, followed by ETH at $570 million, and SOL contributing around $188 million. Overwhelmingly, longs got rekt—$2.14 billion in bullish bets liquidated versus just $466 million in shorts over the full period. In the last 24 hours alone, nearly 580,000 traders were wiped out, with the single largest order being a $12 million BTC long on Binance.
Crypto’s 10th Largest Liquidation Ever Just Hit
This event slots right into CoinGlass’s all-time top 10 liquidation list:
- October 2025 – $19.16B (U.S. tariff hike on China)
- April 2021 – $9.94B (AML rumors + mining halt)
- May 2021 – $9.01B (Tesla reversal + regulatory fears)
…
And now this February 2026 flush joins recent entries like the January 31, 2026 over-leveraged longs wipeout at $2.56B (previously #10).

What triggered this massive cascade?
The pressure has been building for weeks.
Bitcoin already erased its post-election rally and briefly dipped near $60,000 intraday before attempting a small bounce. At the same time, broader markets turned risk-off — equities weakened, precious metals cooled, and macro uncertainty around rates and policy drained liquidity.
That fragile backdrop met an over-leveraged crypto market.
Once BTC lost key support, liquidations kicked in. Those forced sells pushed price lower, triggering even more stop-outs across exchanges. Ethereum followed, and altcoins felt the spillover almost instantly.
Solana’s move was particularly technical. The breakdown aligns with the head-and-shoulders pattern and the NVIDIA 2008 fractal comparison we’ve discussed earlier — momentum flipped sharply as SOL fell below major moving averages, accelerating liquidations across the altcoin space.
Bottom Line
Watch BTC holding $60K–$65K as critical; a failure could drag alts lower. But if stabilization kicks in—think funding rate flips, volume dry-up, or quick reclaim of broken levels—it could set up for a sharp relief bounce.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.
About Author: Nilesh Hembade is the Founder and Lead Author of Coinsprobe, with over 5 years of experience in the cryptocurrency and blockchain industry. Since launching Coinsprobe in 2023, he has been providing daily, research-driven insights through in-depth market analysis, on-chain data, and technical research.
