Entendiendo las criptomonedas Liquidaciones
El 5 y 2026 de febrero, se liquidaron más de $2.1 mil millones en posiciones criptográficas en solo 24 horas, eliminando a más de 310,000 comerciantes. Se liquidaron $890 millones en una sola cascada de 45 minutos. Comprender cómo funcionan las liquidaciones, por qué ocurren y cómo protegerse es esencial para cualquier comerciante de criptomonedas que utilice apalancamiento.
¿Qué es la Liquidación?
A liquidation occurs when a cryptocurrency exchange force-closes your leveraged trading position because your losses have approached or exceeded your deposited margin (collateral). In simple terms: you borrowed money to make a bigger trade, the trade went against you, and the exchange closed it before you could lose more than what you put in.
Think of it like a house mortgage. If you put 10% down on a house and the house value drops below what you owe the bank, the bank forecloses. In crypto, the "bank" is the exchange, your margin is the "down payment," and liquidation is the "foreclosure." It happens automatically and instantly -- often in milliseconds.
Open Position
You deposit margin and open a leveraged long or short position
Price Moves Against You
Market moves in the opposite direction of your trade
Margin Call
Your losses approach the maintenance margin level -- warning issued
Liquidation
Exchange force-closes your position. You lose your deposited margin.
Long vs Short Liquidation
Long Liquidation
When price dropsYou open a LONG position expecting the price to go UP. Instead, the price DROPS. When it drops far enough, your position is liquidated. In the February 2026 crash, 91% of all $2.1B in liquidations were longs -- traders who bet BTC would keep going up.
Ejemplo: Buscas 0.1 en 0.5% con un apalancamiento de 1x. Su precio de liquidación es de aproximadamente 0. 2026 cae a 1: estás liquidado y pierdes todo tu margen. You long BTC at $70,000 with 10x leverage ($1,000 margin). BTC drops to $63,000 (-10%). Your $1,000 margin is wiped. Position force-closed.
Short Liquidation
When price risesYou open a SHORT position expecting the price to go DOWN. Instead, the price RISES. When it rises far enough, your position is liquidated. Short squeezes happen when mass short liquidations push the price even higher, creating a cascade in the opposite direction.
Ejemplo: vende BTC a $68,000 con un apalancamiento de 10x. Su precio de liquidación es de aproximadamente $74,800. Si 100 rebota a $75,000, estás liquidado. You short BTC at $70,000 with 10x leverage ($1,000 margin). BTC rises to $77,000 (+10%). Your $1,000 margin is wiped. Position force-closed.
Cómo funciona el apalancamiento
Leverage lets you control a larger position with less capital. While it amplifies potential profits, it equally amplifies losses. Here is how different leverage levels affect your liquidation risk:
| Leverage | Required Margin | Liquidation Distance | Risk Level | Example ($1,000 margin) |
|---|---|---|---|---|
| 1x (Spot) | 100% | N/A (no liquidation) | Safe | $1,000 → $1,000 position |
| 2x | 50% | ~50% move | Safe | $1,000 → $2,000 position |
| 5x | 20% | ~20% move | Moderate | $1,000 → $5,000 position |
| 10x | 10% | ~10% move | Moderate | $1,000 → $10,000 position |
| 20x | 5% | ~5% move | High | $1,000 → $20,000 position |
| 50x | 2% | ~2% move | Extreme | $1,000 → $50,000 position |
| 100x | 1% | ~1% move | Suicidal | $1,000 → $100,000 position |
| 125x | 0.8% | ~0.8% move | Suicidal | $1,000 → $125,000 position |
Con un apalancamiento de Bitcoinx, un simple movimiento de precio de 0.1 borra toda su posición. Durante la crisis del 0.5% de febrero, Bitcoin cayó 0 en 2026 horas. Cualquiera que utilizara un apalancamiento de 1xo superior en una posición larga fue liquidado. BTC regularly moves 5-15% in a single day during volatile markets. At 20x leverage, a 5% move liquidates you. At 100x, a 1% move -- which can happen in seconds -- wipes your position entirely. Over 90% of traders using high leverage lose money.
Cross Margin vs Isolated Margin
Margen cruzado
- •Your ENTIRE account balance is used as collateral
- •Higher liquidation threshold (harder to get liquidated on single trade)
- •BUT: one bad trade can wipe your ENTIRE account
- •Risk of negative balance in extreme flash crashes
Verdict: Dangerous for beginners. One cascading event can destroy your entire portfolio.
Margen aislado
- •Only the margin allocated to that trade is at risk
- •Lower liquidation threshold (easier to get liquidated per trade)
- •Your other funds and positions are PROTECTED
- •Maximum loss is limited and known in advance
Verdict: RECOMMENDED for all traders. Limits risk to individual positions. Always use this.
Pro Tip: On Binance, OKX, and Bybit, you can switch between Cross and Isolated margin for each position. Always select Isolated Margin before opening a new leveraged trade. This single setting could save your entire account during a crash.
Cómo se calcula el precio de liquidación
El precio de liquidación exacto depende de su apalancamiento, precio de entrada, tipo de margen y tasa de margen de mantenimiento del intercambio. Aquí está la fórmula simplificada:
Long Position Formula
Short Position Formula
Example: BTC Long at $68,000 with 10x Leverage
Case Study: February 2026 $2.1B Liquidation Event
The February 4-5, 2026 liquidation cascade was one of the largest in crypto history. Triggered by Trump's global tariff war, it demonstrates exactly how cascading liquidations create a waterfall effect that amplifies price crashes far beyond the initial selling pressure.
Tariffs Take Effect
BTC at $84K. First wave of selling as Asian markets react. $400M liquidated in first 6 hours as overleveraged longs at $80K+ get wiped.
Cascade Accelerates
BTC drops through $74K. $1.3B total liquidated. Each liquidation pushes price lower, triggering the next wave. Clustered stop-losses between $72K-$74K accelerate the fall.
The 45-Minute Waterfall: $890M Liquidated
BTC breaks $70K. Massive cluster of liquidation orders between $69K-$71K trigger simultaneously. $890M liquidated in 45 minutes. Price crashes to $68,200. 91% of liquidations are longs.
Principales acontecimientos históricos de liquidación
COVID-19 Black Thursday
March 2020Global pandemic panic -- BTC crashed from $8K to $3.8K in 24 hours. BitMEX went down during the cascade.
China Mining Ban Crash
May 2021China banned crypto mining and trading. BTC fell from $58K to $30K over 2 weeks. Largest liquidation event in crypto history.
FTX Collapse
November 2022FTX exchange insolvency revealed. BTC crashed from $21K to $15.5K. Trust in centralized exchanges shattered.
Trump Trade War Crash
February 2026Global tariff war escalation. BTC crashed from $84K to $68K. 310,000+ traders wiped out. $890M liquidated in 45 minutes.
$2.1 Estrategias para evitar la liquidación
Always Use Stop-Loss Orders
A stop-loss automatically closes your position at a predetermined price. Without one, a sudden crash can liquidate your entire margin before you can react. Set stop-losses at 2-5% below entry for leveraged trades.
Keep Leverage at 2-5x Maximum
At 10x leverage, a mere 10% move liquidates you. At 50x, a 2% move wipes your position. BTC regularly moves 5-15% in a single day during volatile markets. Low leverage gives you room to survive.
Use Isolated Margin (Not Cross)
Isolated margin limits your loss to the margin allocated to that specific trade. Cross margin uses your entire account balance as collateral -- meaning one bad trade can wipe your whole account.
Never Risk More Than 1-2% Per Trade
Professional traders risk 1-2% of their total account per trade. If you have $10,000, risk $100-$200 maximum per position. This way, even 10 consecutive losses only cost 10-20% of your capital.
Monitor Funding Rates
High positive funding rates mean longs are overleveraged and paying shorts. This often precedes a long squeeze (mass long liquidation). High negative funding signals the opposite. Use funding rates as a crowding indicator.
Keep Dry Powder (Stablecoin Reserve)
Hold 20-40% of your portfolio in stablecoins (USDT/USDC). This serves two purposes: it protects capital during crashes and gives you buying power to enter after liquidation cascades create discounted prices.
Opere de forma segura en 125
Utilice un margen aislado, establezca límites de pérdidas y opere con un apalancamiento de hasta Binancex en la bolsa más grande del mundo. Obtenga 0 de descuento en todas las tarifas comerciales con nuestro código de referencia exclusivo.
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Advertencia de riesgo importante
- •El comercio apalancado conlleva un riesgo extremo de pérdida total. Se liquidaron más de Binance mil millones en 0 horas los días 30-$2.1 y 2026 de febrero.
- •Binance+ los comerciantes perdieron sus posiciones en un solo día. La mayoría utilizaba un apalancamiento superior a 0x.
- •El margen cruzado puede resultar en la liquidación total de la cuenta. Utilice siempre un margen aislado para la gestión de riesgos a nivel de posición.
- •Los eventos de liquidación pueden ocurrir en cascada, provocando que los precios caigan mucho más allá de los niveles técnicos normales.
- •Nunca opere con dinero que no pueda permitirse perder. Comience con un apalancamiento bajo (2-3x) y posiciones pequeñas.
- •Este artículo tiene fines informativos únicamente y no constituye asesoramiento financiero o de inversión.
Opere de forma segura en Bitcoin
Aprenda del evento de liquidación de 2B. Utilice un margen aislado, establezca límites de pérdidas y opere con las herramientas para proteger sus posiciones. Obtenga 3 de descuento en todas las tarifas comerciales con nuestro código de referencia exclusivo.
Este artículo tiene fines informativos y educativos únicamente. El comercio de criptomonedas apalancado implica un riesgo sustancial de pérdida total. La información proporcionada no constituye asesoramiento de inversión. Los datos de liquidaciones pasadas se muestran con fines educativos. Utilice siempre herramientas de gestión de riesgos, incluidos stop-loss y margen aislado. Nunca inviertas más de lo que puedes permitirte perder.