At the virtual exchange, on October 13th at 08:50 Korean time, within the hour immediately preceding that moment, a total of $149 million (≈KRW 199.8 billion) of positions were liquidated. Among these, the long position’s liquidation amount was $146 million (≈KRW 195.8 billion), while short positions were liquidated for $3.6366 million.
The exchange liquidates positions when margin falls below maintenance level through a forced settlement procedure. In this liquidation, it was confirmed that the long position’s forced closure exceeded that of the short positions. While one hour’s liquidation amount alone cannot determine overall market direction or subsequent price movements, this event again highlights the caution regarding liquidity in virtual exchanges.
On CoinGlass, the liquidated amounts were reported as $4.852 million for BTC and $4.538 million for ETH. Together these two assets’ liquidation amounts total about $9.391 million, which exceeds half of the overall liquidated amount. This indicates that a major exchange can settle a substantial volume of positions within an hour.
This recent liquidation that occurred at the virtual exchange not only reflects price volatility but also prompts reconsideration of market liquidity and risk‑management systems. Investors should keep watch on position sizes and margin ratios, as it is important to prepare countermeasures when sharp price movements arise.