WHICH SIDE
Which side was closed out by force?
How much of what the exchanges closed out was people betting on a rise and how much was people betting on a fall, day by day and hour by hour.
Up-bets closed out across 3 exchanges
Recorded on all 3 exchanges. This reading has been complete since 2026-09-07; the 33 earlier days are not published, because a total that climbs as exchanges arrive is not a market move.
Forced closures, hour by hour
Each bar is one hour of forced closures as we recorded them, split by which way the traders were betting. Hours are in UTC.
Every exchange on this page
every exchange on this page: 5 exchanges reported at best; 4 of 24 hours were short or missing.
Every hour, as a table
| Hour | Up-bets closed | Down-bets closed | Note |
|---|---|---|---|
| $17,781 | $524,794 | ||
| $20,632 | $7,605 | fewer reported | |
| $4,087 | $270,660 | ||
| $234 | $1.4 million | ||
| $71,699 | $311 | fewer reported | |
| $1.6 million | $114,714 | ||
| $7.3 million | $142,749 | ||
| $934,212 | $398,962 | ||
| $14.0 million | $61,629 | ||
| $25.6 million | $2.2 million | ||
| $51,740 | $8.9 million | ||
| $324,722 | $4.4 million | ||
| $1,892 | $132,832 | fewer reported | |
| $11,294 | $2.7 million | ||
| $1,425 | $3.1 million | ||
| $12,864 | $384,793 | fewer reported | |
| $6,544 | $1.8 million | ||
| $21,433 | $121,303 | ||
| $2.1 million | $334,023 | ||
| $9,599 | $491,212 | ||
| $1.8 million | $30.1 million | ||
| $3.3 million | $140.9 million | ||
| $117,300 | $637,108 | ||
| $145,985 | $430,970 |
The three with the longest record
the three with the longest record: 3 exchanges reported at best; 1 of 24 hours was short or missing.
Every hour, as a table
| Hour | Up-bets closed | Down-bets closed | Note |
|---|---|---|---|
| $17,307 | $513,478 | ||
| $18,881 | $7,605 | ||
| $4,087 | $238,720 | ||
| $234 | $1.3 million | ||
| $16,167 | $311 | fewer reported | |
| $1.6 million | $114,714 | ||
| $6.3 million | $88,933 | ||
| $871,478 | $348,127 | ||
| $12.7 million | $18,081 | ||
| $22.5 million | $2.0 million | ||
| $45,587 | $7.3 million | ||
| $297,600 | $4.0 million | ||
| $1,892 | $109,951 | ||
| $8,118 | $2.1 million | ||
| $1,425 | $2.0 million | ||
| $11,275 | $372,083 | ||
| $6,505 | $1.6 million | ||
| $1,333 | $70,468 | ||
| $2.0 million | $303,540 | ||
| $9,403 | $439,725 | ||
| $1.8 million | $23.5 million | ||
| $2.6 million | $101.9 million | ||
| $113,745 | $576,964 | ||
| $144,291 | $428,060 |
How far can these hours be trusted?
These totals are as recorded, and they run short by design: two exchanges publish at most one forced closure per coin per second, so a busy minute reads smaller than it was. An hour with no closure from any exchange is left blank rather than drawn as zero, because a quiet hour and a recorder that was switched off look the same. An hour where fewer exchanges showed up than on the rest of the day is marked.
The 24 closed hours up to 4 Nov, 17:00 UTC.
The numbers on this page, recorded by Maketo, with the coverage written at the top of the file. One download a day with a Maketo account.
Right now
63.4% of it was people betting on a rise
$24.6 million of up-bets and $14.2 million of down-bets were closed out. Closing a position that was betting on a rise means selling, so a wave of them pushes the price the way it was already going. That is why a large day here usually sits at the end of a sharp move rather than at the start of one.
The numbers
behind the chart
What does the current reading show?
Up-bets closed out: the latest reading is $20.7 million, on . The highest reading since is $204.2 million on ; the lowest is $273,728 on .
A contract here is one exchange's version of the bet. The dollar-settled and the coin-settled versions count separately, so an exchange can carry more than one. Two sets of exchanges are published side by side and never spliced into one line: the widest set the site follows, and the three with the longest record. Joining them would draw a step change on the morning an exchange arrived and label it a market move. These stopped trading or paused, and are no longer counted: BitMEX on 16 Sep 2026, one Bitget contract on 17 Sep 2026 and Coinbase International on 1 Oct 2026.
What are the latest, highest and lowest readings?
| Measure | Latest | Highest | Lowest |
|---|---|---|---|
| Up-bets closed out | $20.7 million | $204.2 million | $273,728 |
How do the readings compare with earlier dates?
| Reference date | Up-bets closed out |
|---|---|
| 1 month ago | $1.2 million |
What was the reading at each month’s end?
| Reading date | Up-bets closed out |
|---|---|
| $1.6 million | |
| $20.4 million |
Understanding
Bitcoin Liquidations by Side
Where it stands today
$24.6 million of what was closed out was people betting on a rise as of .
$14.2 million of what was closed out was people betting on a fall as of .
Up-bets were 63.4% of everything closed out as of .
A leveraged position is backed by collateral. When the price moves far enough against it, the exchange closes the position rather than waiting. That forced close is a liquidation, and every one has a side: the position was betting on a rise or betting on a fall.
Up-bets closed out means people who were betting on a rise. Down-bets closed out means the other side. The side named is the position that was closed, not the order that closed it: closing an up-bet is a sale, and closing a down-bet is a purchase.
The share that was up-bets is the up-bet dollars divided by everything closed out that day. Above half, more up-bets than down-bets were closed. It says who was closed out that day and nothing about the day after.
These totals describe what was recorded, never the whole market. One exchange publishes at most one closure per second per contract, so its figure is a floor rather than a count, and several exchanges publish no record of forced closures at all. How much was closed in total, how many positions and how big they were is on the main liquidations page.
Two views of the same number run side by side on this page and are never joined into one line. The wider one covers every exchange here and is the more complete picture; it is also the younger, because it only begins on the first day all of them reported. The narrower one is three exchanges with months of history behind it. A single line spliced from both would draw a step upward on the morning the other exchanges arrived and it would look exactly like a market move.
Source: Read from the exchanges' own published contract records, 9 of them, once a day. A contract here is one exchange's version of the bet. The dollar-settled and the coin-settled versions count separately, so an exchange can carry more than one. Reading for .