The liquidation map

A liquidation is a position the exchange closed by force, and it reaches the tape as an ordinary trade. The map gathers that flow by coin over the last minutes and shows which side is being taken out, and by how much.

Longs and shorts, not buys and sells

The terminology is fixed once and held everywhere: a LONG liquidation is a forced SELL (the exchange sold to close the position) and a SHORT liquidation is a forced BUY. Exchanges publish orders, but a trader reads positions, so every line is written in positions.

That is also how to read it: a cascade of long liquidations is a stream of market sells nobody chose to place. It moves price exactly as if somebody had wanted to, and it ends just as abruptly.

What a row carries

Per coin: how much of the flow was longs and how much shorts over the window, the lowest and highest liquidation price, and the time of the last one. Coins are sorted by forced volume, largest first.

Beside it, open interest over the same window. It is counted in position size rather than notional, so a rise means new positions rather than old ones that got more expensive.

Coverage

The map names the exchanges the flow was gathered from and the window it covers, directly above the list. An exchange that did not answer is named with its reason rather than folded into a shared zero.