Several altcoins face increased liquidation risk during Christmas week 2026. While the liquidation heatmap shows a clear imbalance, open interest is rising rapidly.
Which altcoins are at risk and what factors should investors be aware of when holding long or short positions? The analysis below provides more details.
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1. Ethereum (ETH)
The 7-day ETH liquidation heatmap shows that the likelihood of long liquidations far exceeds short liquidations.
If ETH falls to the $2,660 zone during Christmas week, total long liquidations could exceed $4 billion. In contrast, if ETH rises to $3,370, total short interest liquidations could reach $1.65 billion.
Factors long traders should monitor to reduce risk:
If these factors strengthen, they could trigger a sharply bearish scenario. Such a move could lead to large-scale liquidations among long traders.
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2. Midnight (NIGHT)
Midnight (NIGHT) has recently attracted a lot of attention from traders. Open interest jumped from $15 million to more than $90 million in less than two weeks.
Liquidation data suggests that traders broadly expect NIGHT prices to continue rising. As a result, traders betting on a bullish scenario may face larger losses due to increased usage of capital and leverage.
Cardanians, the company that operates Cardano’s stake pool, reported that NIGHT currently has a daily trading volume of $6.8 billion. This number exceeds the combined amount of SOL, XRP, and BNB. Despite the surge in volume, NIGHT recorded its first daily red candlestick today after seven consecutive days of gains. This indicates that selling pressure is increasing.
Furthermore, investor Plutus cited data from DekuHunter and said that 100% of current NIGHT holders who bought in the market have profited. These holders can profit at any time.
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These signals serve as a warning that profit-taking pressure on NIGHT could increase this week.
According to the liquidation heatmap, if NIGHT falls to $0.077, the cumulative long liquidation amount could reach $15 million.
3. Audiera (BEAT)
According to a recent BeInCrypto report, BEAT has surged more than 5,000% since its launch in November. The token reached an all-time high of $4.99.
However, many traders do not seem satisfied and continue to hope for further gains. This sentiment is also reflected in the liquidation data, with potential long liquidations significantly outnumbering short liquidations.
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Some traders have expressed concerns about possible price manipulation. These concerns are similar to the 75% collapse of Bitlight (LIGHT). Supporting observations include:
BEAT dropped 30% in less than an hour, but recovered 50% in just one minute. Sudden price fluctuations can be the result of manipulation by large wallets. Audiera’s official website remains inaccessible. The project’s official X account has no updates other than a post announcing BEAT as the top earner.
Market data platform CoinAnk issued a warning about liquidation risks.
“While the cost of holding short positions remains low in a negative funding rate environment, extreme volatility in $BEAT could easily cause cascading liquidations, impacting both long and short positions,” CoinAnk said.
If BEAT falls below $3, the total long liquidation could reach $10 million.
