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CoinGlass reports record $3.07B in crypto short liquidations on Aug. 20

Photorealistic crypto market dashboard with rising trend line and a bold 3.07B liquidation figure at center.

CoinGlass said crypto short liquidations reached a record $3.07 billion on Aug. 20, marking what the market data provider described as a historic wipeout for bearish positions.

The CoinGlass official account on X posted that “today, crypto short liquidations made history — $3.07B liquidated,” alongside a dashboard image showing the figures.

Liquidation data tracks forced closures of leveraged positions when prices move against traders. In this case, the reported total refers to short positions, meaning bets that crypto prices would fall. The figure does not by itself explain why the move happened, only that a large amount of bearish positioning was closed out as the market moved higher.

A separate media report citing CoinGlass data also pointed to the same Aug. 20 liquidation surge, reinforcing the scale of the move, although CoinGlass’s post is the clearest direct confirmation of the headline number.

What the liquidation figure shows

The $3.07 billion reading is notable because it reflects short-side forced selling across the crypto market in a single day. Liquidation spikes usually indicate that leveraged positioning was heavily crowded on one side before prices moved sharply enough to trigger margin calls.

CoinGlass did not say in the post which assets accounted for the largest share of the liquidations, and the figure alone does not reveal whether the move was driven by Bitcoin, altcoins or a broader market move. It does, however, show how quickly derivatives positioning can unwind when price momentum runs against traders.