CoinGlass: Crypto market liquidation volume to reach $150 billion in 2025, averaging approximately $400-500 million per day.

According to CoinGlass's annual report, the total forced liquidation of both long and short positions in the crypto derivatives market in 2025 was approximately $150 billion, averaging about $400-500 million per day. The concentrated deleveraging event on October 10th and 11th was particularly noteworthy, with over $19 billion liquidated that day, with long positions accounting for 85%-90%. This event was triggered by the US announcement of tariffs on Chinese imports, leading to market risk aversion, coupled with the high leverage of BTC, resulting in a surge in pressure on the liquidation chain. The report points out that deviations in the execution of automatic reduction (ADL) in the liquidation mechanism exacerbated market volatility, with some long-tail assets experiencing declines of over 80%, and those with low liquidity being particularly severely affected. Although no systemic default occurred, the vulnerability of the liquidation system exposed deficiencies in tail risk management. Analysts predict that improvements to the liquidation mechanism and systemic risk prevention will be key issues in the market in 2026.