{"id":557290,"date":"2026-08-24T08:53:41","date_gmt":"2026-08-24T07:53:41","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=557290"},"modified":"2026-08-24T09:17:05","modified_gmt":"2026-08-24T08:17:05","slug":"bitcoin-weekend-dip-wiped-out-250m-in-leveraged-long-traders-while-open-interest-weakens","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bitcoin-weekend-dip-wiped-out-250m-in-leveraged-long-traders-while-open-interest-weakens\/","title":{"rendered":"Bitcoin weekend blip wiped out $250M in over leveraged long traders while open interest weakens"},"content":{"rendered":"<p>Bitcoin\u2019s rally squeezed short sellers last the week. By Sunday, the reversal was hitting leveraged longs.<\/p>\n<p>At about 07:00 UTC on Aug. 23, <a href=\"https:\/\/www.coinglass.com\/liquidations\">CoinGlass<\/a> showed $101.39 million of crypto long positions liquidated over four hours, almost 86% of the window\u2019s $118.13 million total. The 24-hour view put long liquidations at $250.57 million out of $339.73 million.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/bitcoin-blasts-past-72000-as-trump-treasury-buybacks-wipe-out-3-1b-in-shorts\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">Bitcoin blasts past $72,000 as Trump, Treasury buybacks wipe out $3.1B in shorts<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<h2>Bitcoin liquidations hit leveraged longs<\/h2>\n<p>Bitcoin contributed $38.66 million of the four-hour long liquidations and $55.82 million over 24 hours. At the time, BTC traded near $76,088, down about 1.8% over the preceding day after approaching $80,000 during the earlier rally. Since then, Bitcoin has recovered slightly to near $77,300.<\/p>\n<p>The liquidation mix confirms a sharp change in who was being forced out. The positioning data, however, showed leverage shrinking during the pullback.<\/p>\n<h2>Open interest falls during the pullback<\/h2>\n<p><a href=\"https:\/\/www.coinglass.com\/currencies\/BTC\/futures\">CoinGlass<\/a> placed aggregate Bitcoin futures open interest near $54.54 billion, down 2.65% over 24 hours. Major perpetual funding rates were generally near the 0.01% baseline, while the aggregate account long-short ratio stood at 0.9238. A market already reloading with crowded longs would typically show expanding open interest and richer funding; this capture showed restrained positioning on both measures.<\/p>\n<p>\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/bitcoin-crashed-and-flushed-leverage-out-but-is-the-bottom-here-yet\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">Bitcoin crashed and flushed leverage out, but is the bottom here yet?<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n<br \/>\n<a href=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-d78f7db3-8fae-4b5b-b91e-00c5fb4429d4.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-557297\" src=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2026\/08\/exec-d78f7db3-8fae-4b5b-b91e-00c5fb4429d4.png\" alt=\"Bitcoin weekend leverage reversal showing four-hour and 24-hour long liquidation shares and post-flush positioning metrics from an Aug. 23 CoinGlass snapshot\" width=\"720\" height=\"900\" \/><\/a><\/p>\n<p>The washout was also broader than Bitcoin. Binance accounted for $65.02 million of all crypto liquidations over four hours, including $58.64 million in longs. The largest single order shown over 24 hours was an $11.72 million ETHUSDT liquidation on Binance.<\/p>\n<p>The earlier short squeeze carries several totals tied to different windows. <a href=\"https:\/\/x.com\/coinglass_com\/status\/2090435087506801077\">CoinGlass said on Aug. 20<\/a> that $3.07 billion in crypto shorts had been liquidated \u201ctoday,\u201d without defining exact start and end times. Its live historical table separately listed a $2.99 billion event dated Aug. 19, while <a href=\"https:\/\/cryptoslate.com\/bitcoins-road-to-80000-has-already-destroyed-4-billion-in-short-bets\/\">CryptoSlate\u2019s prior coverage<\/a> and the <a href=\"https:\/\/apnews.com\/article\/gold-bitcoin-treasury-dollar-bessent-inflation-trump-be7df8c0eaa159e4149df8efc4000fc9\">Associated Press<\/a> used broader figures above $4 billion. Direct comparison would turn different scopes into one misleading record total.<\/p>\n<p>Spot ETF demand provides a counterweight to a derivatives-only explanation.<\/p>\n<h2>ETF inflows offer a spot-market counterweight<\/h2>\n<p><a href=\"https:\/\/farside.co.uk\/btc\/\">Farside Investors<\/a> recorded five consecutive sessions of US spot Bitcoin ETF inflows through Friday, including $307.5 million on Aug. 21, before the creation channel closed for the weekend. The timing leaves long liquidations and thinner weekend spot support entangled.<\/p>\n\n<div class=\"cs-article-embed\">\n    <a href=\"https:\/\/cryptoslate.com\/bitcoin-hits-80000s-doorstep-just-as-the-etf-bid-disappears-for-the-weekend\/\" class=\"cs-article-embed__link\">\n        <div class=\"cs-article-embed__body\">\n            <span class=\"cs-article-embed__related-reading\">Related Reading<\/span>\n            <h3 class=\"cs-article-embed__title\">Bitcoin hits $80,000's doorstep just as the ETF bid disappears for the weekend<\/h3>\n        <\/div>\n        <span class=\"cs-article-embed__arrow\" aria-hidden=\"true\">\n            <i class=\"fa-light fa-arrow-up-right\"><\/i>\n        <\/span>\n    <\/a>\n<\/div>\n\n<p>The Aug. 23 snapshot therefore captures a long flush already reducing open interest. Evidence of the next crowded long trade would have to emerge in a later expansion of leverage, funding or both. Until then, the live data describes a cleanup of existing risk, with Monday\u2019s reopened ETF channel providing the next spot-demand test.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Open interest fell 2.65% and funding stayed near baseline, pointing to leverage clearing rather than longs rebuilding.<\/p>\n","protected":false},"author":1264,"featured_media":557480,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60840,77968,80621,79312,6849],"tags":[81074,81073,76769,76718],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Bitcoin long liquidations hit $38.7 million as leverage clears<\/title>\n<meta name=\"description\" content=\"Bitcoin open interest fell 2.65% as funding stayed near baseline, suggesting leverage cleared 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