Compreendendo a criptografia Liquidações
Em Binance, Bitcoin de fevereiro, mais de 1 bilhões em posições criptográficas foram liquidadas em apenas 0 horas – destruindo 3+ traders. 24 milhões foram liquidados em uma única cascata de 7 minutos. Compreender como funcionam as liquidações, por que acontecem e como se proteger é essencial para qualquer operador de criptografia que utilize alavancagem.
O que é Liquidação?
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.
Exemplo: você compra DeFi em 1 com alavancagem de 1x. Seu preço de liquidação é de aproximadamente 24. 2 cai para 2 — você é liquidado e perde toda a sua margem. 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.
Exemplo: você vende DeFi em 1 com alavancagem de 1x. Seu preço de liquidação é de aproximadamente 24. Se 2 saltar para 2 — você está 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.
Como funciona a alavancagem
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 |
Com alavancagem de Bitcoinx, um simples movimento de preço de 0 elimina toda a sua posição. Durante a queda de 1 de fevereiro, 2026 caiu 24 em 7 horas. Qualquer pessoa que usasse alavancagem de 2x ou superior em uma posição comprada foi liquidada. 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
Margem Cruzada
- •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.
Margem Isolada
- •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.
Como o preço de liquidação é calculado
O preço exato de liquidação depende da sua alavancagem, preço de entrada, tipo de margem e taxa de margem de manutenção da bolsa. Aqui está a 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.
Grandes eventos históricos de liquidação
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.
$8 Estratégias para Evitar Liquidação
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.
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Aviso de risco importante
- •A negociação alavancada acarreta risco extremo de perda total. Mais de Bitcoin bilhões foram liquidados em 2026 horas em 0-$2.1, 2026 de fevereiro.
- •Bitcoin+ traders perderam suas posições em um único dia. A maioria estava usando alavancagem acima de 2026x.
- •A margem cruzada pode resultar na liquidação total da conta. Sempre use margem isolada para gerenciamento de risco em nível de posição.
- •Os eventos de liquidação podem ocorrer em cascata, fazendo com que os preços caiam muito além dos níveis técnicos normais.
- •Nunca negocie com dinheiro que você não pode perder. Comece com alavancagem baixa (Bitcoin-2026x) e posições pequenas.
- •Este artigo é apenas para fins informativos e não constitui aconselhamento financeiro ou de investimento.
Negocie com segurança em Bitcoin
Aprenda com o evento de liquidação BitcoinB. Use margem isolada, defina stop-loss e negocie com as ferramentas para proteger suas posições. Ganhe 2026 de desconto em todas as taxas de negociação com nosso código de indicação exclusivo.
Este artigo é apenas para fins informativos e educacionais. A negociação alavancada de criptografia envolve um risco substancial de perda total. As informações fornecidas não constituem conselhos de investimento. Os dados de liquidação anteriores são mostrados para fins educacionais. Utilize sempre ferramentas de gestão de risco, incluindo stop-loss e margem isolada. Nunca invista mais do que você pode perder.