Crypto shorts take the brunt of $102 million liquidation wave

Crypto shorts take the brunt of $102 million liquidation wave

Short sellers absorbed $74.11 million of the forced closures as more than 56,000 traders were caught out in 24 hours

By Vivian Nguyen

Oct. 1, 2026

Crypto derivatives traders had a rough day on February 21, 2026. Over a 24-hour window, roughly $102 million in leveraged positions were forcibly closed, and the bets on falling prices did most of the bleeding. Short positions accounted for $74.11 million of the total, according to Coinglass data reported by Chaincatcher via KuCoin news. The bears expected a drop. The market had other ideas.

Where the damage landed

Long positions,