Bitcoin liquidations relative to open interest: long plus short liquidations over the trailing 30 days as a share of open interest — how much leverage the market has been flushing. Daily since 2020.
Left axis: BTC price (log). Right axis: long + short liquidations over the trailing 30 days as % of that day's open interest.
ratio = (long liquidations + short liquidations over the trailing 30 days) / open interest at the close
Liquidations are forced closes of leveraged positions. Coinfuty sums the aggregated long and short liquidation series over a rolling 30-day window and divides by the day's open interest, so the ratio reads as "what share of today's leverage was flushed in the last month".
A high ratio means the market has been violently repricing leveraged traders — typical of blow-off tops and capitulation bottoms alike, so read it together with price direction. Sustained readings above 15% during an advance flagged the 2021 tops; the same readings during a decline have marked washouts that preceded rebounds.
Liquidations equal to 7.5% of open interest as of Oct 19, 2026 — below the 15% level that marks heavy flushing.
How much of the outstanding leverage has been forcibly closed over the past month. High values mean the market has been repricing leveraged traders violently — typical of both blow-off tops and capitulation bottoms.
Neither on its own. Long liquidations dominate in sell-offs and short liquidations in squeezes; the stat cards split the 30-day total so you can see who is being flushed.
The aggregated daily liquidation and open-interest series both start in 2020, so the ratio covers the 2021 tops and the 2022 bottom.
Coinfuty computes every series on this page from daily BTC close prices and public constants — the Bitcoin halving schedule, block subsidy and published regression coefficients. Values refresh nightly (00:20 UTC) and the current day is patched hourly. These are historical, backward-looking indicators; nothing here is investment advice.