Bitget Lone Short-Heavy Venue as 24H Liq Flips to Longs
The 24-Hour Balance Just Flipped
Bitget is the last top venue still clearing short positions as the 24-hour liquidation window flipped to long-heavy. Total liquidations sit at $595.8 million, with long positions paying $355.5 million, or 59.7% of the whole. An hour ago the same window showed shorts at 52.6% on a $456 million total. What changed: the short squeeze that ran into the $81.3K high has rolled out of the window, and the drop that followed flushed leveraged longs instead. Binance recorded a single $11.8 million BTC long wiped near $77,332, an ETH long for $6.6 million near $2,408, and an XRP long for $3.2 million, all within minutes of each other.
Binance and OKX Now Lean Long
The two reference venues flipped hard. Binance shows 67.2% of its $218.4 million in liquidations came from longs; OKX shows 68.8% of $99.3 million. Hyperliquid sits at 59.4% longs on $95.4 million, Gate at 58.6% on $35 million, Bybit at 58.1% on $55.4 million. BTC traded $78,654 on Binance and $78,650 on OKX at the time of writing, down about 0.3%, with the 24-hour range from $81.3K to $77.8K. The pattern is consistent: whoever bought the top of the push is the one being cleared.
Bitget Stays Short-Heavy
Shorts paid 75.7% of its $68.3 million in liquidations, the only top venue where that is true. The anchor is a single $40.7 million ETH short wiped near $2,541 during the rally to the high, plus smaller short squeezes that never got matched by long flushes on the way down. In other words, Bitget's book is still clearing the positions that bet against the squeeze, while the rest of the market is clearing the positions that bought the top.
What to Make of It
The flip is a warning about crowd timing, not about direction. Longs paid 59.7% of the last 24 hours because the round trip from $81.3K flushed late buyers; shorts paid most of the day before because the squeeze caught them first. Venue-level data shows the same trade can lose on both sides within a day, and Bitget's short-heavy ledger is a reminder that a failed squeeze leaves open positions that still need to be unwound. Watch the $77.8K low: a break below it would put fresh long liquidations back on the table, and another test of $81K would likely start with shorts paying again.
Data as of 07:36 Beijing time on August 26, covering Binance, OKX, Bybit, Hyperliquid, Gate, Bitget and other major exchanges.