Bitcoin Liquidation Map
Where real Hyperliquid positions would be liquidated, not where a model guesses.
Bitcoin liquidation levels now
As of Nov 10, 2026, 15:08 UTC, $137.1M of BTC longs on Hyperliquid would be liquidated within 5% below the price of $74,668, against $3.0M of shorts within 5% above. A leverage model would put $557.4M in the same range, 4.0× more.
- Longs within −5%
- $137.1MLiquidated below price
- Shorts within +5%
- $3.0MLiquidated above price
- Median distance
- 34%To liquidation, by value
- Model overstates
- 4.0×Value within ±5%
- Effective leverage
- 3.7×Median; set: 20×
- Coverage
- 32%Of Hyperliquid BTC OI
Bitcoin liquidation map
Snapshot Nov 10, 2026 15:08 UTC · 568 BTC positions of the 5,000 largest accounts · 32% of Hyperliquid BTC open interest · last 30 days of price · Source: Hyperliquid
Largest Bitcoin liquidation levels
| Price level | Distance | Side | Value | Positions |
|---|---|---|---|---|
| $85,000 to $85,500 | +14% | Shorts | $100.9M | 3 |
| $70,500 to $71,000 | −5% | Longs | $77.1M | 3 |
| $60,000 to $60,500 | −19% | Longs | $51.7M | 3 |
| $80,500 to $81,000 | +8% | Shorts | $51.7M | 3 |
| $71,500 to $72,000 | −4% | Longs | $51.1M | 2 |
| $70,000 to $70,500 | −6% | Longs | $35.6M | 4 |
| $62,000 to $62,500 | −17% | Longs | $25.9M | 2 |
| $69,500 to $70,000 | −7% | Longs | $23.8M | 2 |
$500 price bands within ±20% of the price, real liquidation prices of Hyperliquid accounts.
Why leverage models overstate nearby liquidations
Maps of centralized exchanges have to estimate liquidation prices from leverage, because those exchanges do not publish positions. On Hyperliquid we can test that method: a leverage model puts $557.4M within 5% of price, while real accounts hold $140.1M. 90% of position value uses cross margin, and 67% sits more than 20% from liquidation.
Set leverage vs real leverage
32% of position value is opened at 21-40× in the trading interface. Measured against account equity, the median position runs at 3.7×: large traders keep far more collateral than the leverage setting suggests.
Ten largest BTC positions
| Side | Size | Value | Entry | Liquidation | Distance | Leverage set / effective |
|---|---|---|---|---|---|---|
| Short | 2,354.6 BTC | $175.8M | $76,390 | $121,404 | +63% | 5× / 1.8× |
| Short | 2,090.4 BTC | $155.9M | $77,924 | $117,685 | +58% | 5× / 1.8× |
| Short | 1,301.6 BTC | $97.0M | $78,460 | $93,715 | +26% | 25× / 3.6× |
| Long | 1,000.0 BTC | $74.6M | $72,771 | $51,724 | −31% | 3× / 3.3× |
| Short | 841.9 BTC | $62.8M | $78,860 | $85,080 | +14% | 8× / 6.0× |
| Short | 780.9 BTC | $58.2M | $78,885 | $102,204 | +37% | 20× / 2.5× |
| Long | 671.1 BTC | $50.1M | $81,993 | $70,945 | −5% | 12× / 13.4× |
| Short | 628.2 BTC | $46.9M | $81,382 | $147,085 | +97% | 40× / 3.9× |
| Short | 600.0 BTC | $44.8M | $73,799 | $80,542 | +8% | 40× / 11.1× |
| Long | 600.0 BTC | $44.8M | $82,098 | $60,039 | −20% | 20× / 28.2× |
Wallet addresses are not shown. Positions are public on Hyperliquid; this table only shows their size and risk.
Each side sums its own 10 largest positions, so these totals differ from the table. They show size, not market direction: a large position can be a hedge. A position counts from the hour we first read its account, which can be after it was opened.
Liquidation pressure over time
Hourly series since Nov 6, 17:00 UTC: 95 of 95 hours collected.
One reading per hour, up to the last 30 days. A missed hour stays empty: gaps are not filled with estimates.
How this map works
What it measures
Hyperliquid is an on-chain exchange, so every account's open positions and liquidation prices are public. This page reads the BTC perpetual positions of the 5,000 largest Hyperliquid accounts and adds up how much position value would be liquidated at each price level.
Formula
Distance to liquidation = liquidation price / mark price − 1
How to read it
Bars below the price are longs that would be closed if price falls to that level; bars above are shorts closed if price rises. The larger the bar, the more forced selling or buying a move to that level could trigger.
Switch to Leverage model to see what a map would show if it knew each trader's leverage but not their collateral. Maps of centralized exchanges have to work this way, because those exchanges do not publish positions, so a model can show more liquidations close to price than accounts really hold.
Limitations
This is one exchange. Hyperliquid holds a minority of Bitcoin futures open interest, and the Coverage figure above shows how much of it the 5,000 largest accounts hold. Binance, Bybit, OKX and other centralized exchanges do not publish positions. The price is the BTC/USD mark price of the Hyperliquid perpetual, and the snapshot is taken once an hour. The leverage model is our own comparison, not a copy of any vendor's method.
For what happens when these levels are reached, read the Bitcoin liquidation cascades guide.
Latest Adler AM briefs
Bitcoin Liquidation Map, explained
What is a Bitcoin liquidation map?
A chart of the price levels at which leveraged Bitcoin futures positions would be force-closed. This map by Axel Adler Jr. is built from real Hyperliquid positions, not from a leverage model.
How much Bitcoin would be liquidated within 5% of the price today?
On Nov 10, 2026, 15:08 UTC, $137.1M of longs on Hyperliquid would be liquidated within 5% below $74,668, and $3.0M of shorts within 5% above. These are the 5,000 largest accounts, 32% of Hyperliquid BTC open interest.
How accurate are Bitcoin liquidation maps?
Maps of centralized exchanges are estimates, because those exchanges do not publish positions. Axel Adler Jr. tested the method on real Hyperliquid positions: on Nov 10, 2026, a model using each position's entry price and set leverage put 4.0 times more value within 5% of price than the accounts actually hold. The gap changes from day to day.
What leverage do Bitcoin traders on Hyperliquid actually use?
On Nov 10, 2026, the median BTC position among the largest Hyperliquid accounts was set at 20× but ran at 3.7× against account equity. 32% of position value was set at 21-40×.
Why are most Bitcoin liquidation levels far from the price?
90% of position value on this map uses cross margin: the whole account balance backs each position. A position can be opened at 40×, but if the account holds more collateral, the liquidation price sits far away. 67% of position value is more than 20% from liquidation.
What is the difference between a Bitcoin liquidation map and a liquidation heatmap?
A liquidation map shows where positions would be liquidated right now. A liquidation heatmap adds time and shows how those levels built up. This page is a map; each hourly snapshot it stores adds to its history.
How often is the Bitcoin Liquidation Map updated?
Once an hour. The time of the latest snapshot is shown under the chart.
Does the Bitcoin Liquidation Map cover all Bitcoin futures?
No. It covers Hyperliquid only, a minority of Bitcoin futures open interest. Binance, Bybit, OKX and other centralized exchanges do not publish individual positions.
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