an exchange force-closing a leveraged position.
Liquidation is an exchange force-closing a leveraged position.
when price moves against a leveraged bet, the exchange sells it out automatically, no second chances.
liquidations cascade: one flush triggers the next, and that's how you get $1B wiped in an hour.
The desk watches this alongside the nine Pulse Score signals when reading a coin. See Methodology for how the score fuses its inputs.
how much more (or less) BTC trades for on Coinbase vs the rest of the world, in basis points
Next explainerwhether the buy side or sell side of the exchange order book is heavier
Explainer generated Sep 24, 2026 from the desk glossary. Not financial advice.