Crypto short liquidations hit record $2.7B after early-morning rally

Daily short liquidations triggered by today’s early-morning rally reached a record high, with $2.738 billion wiped out from 9:00 a.m. on Aug. 19 through the current reading on Aug. 20, according to Coinglass data. That surpassed the previous daily record of $2.467 billion set on Oct. 10 last year. Including long positions, however, total liquidations ranked as the third-largest on record. On Oct. 10 last year, total liquidations reached $19.25 billion, while about $3.616 billion in positions were liquidated on Sept. 22 last year. As of today, total liquidations stood at about $2.985 billion.