According to ChainCatcher, Coinglass data indicates that in 2025, the total notional amount of long and short positions forced to liquidate across the network was approximately $150 billion, corresponding to a daily average of approximately $400-500 million in normal leveraged liquidation.
On most trading days, the scale of long and short margin calls remained in the range of tens of millions to hundreds of millions of US dollars, mainly reflecting daily margin adjustments and short-term position clearing under high leverage, with limited medium- to long-term impact on prices and structure. The truly systemic pressures were concentrated in a few extreme event windows, with the deleveraging event of October 10-11 in mid-October being the most typical.
