Various altcoins are at an increased risk of liquidations during the Christmas week of 2026. Liquidation heatmaps show clear imbalances, while open interest has risen sharply.
Which altcoins are at risk and what factors should investors keep an eye on when holding long or short positions? The following analysis explains this.
1. Ethereum (ETH)
The 7-day ETH liquidation heatmap shows that the number of potential long liquidations is much greater than the number of short liquidations.
If ETH drops to the $2,660 zone during the Christmas week, total long liquidations could exceed $4 billion. Conversely, if ETH rises to $3,370, total short liquidations could amount to $1.65 billion.
Points for long traders to watch in order to reduce risks:
Arthur Hayes recently transferred 508.6 ETH (about $1.5 million) to Galaxy Digital. This has sparked speculation that he may be reducing his Ethereum position.
The Ethereum Coinbase Premium Index turned negative in the third week of December. If selling pressure on Coinbase increases, the ETH price could drop further in the coming days.
Outflows from ETH ETFs last week amounted to $643.9 million. This trend indicates broader selling pressure in the cryptocurrency market.
If these factors strengthen, it could create a strong bearish situation. This may lead to large-scale liquidations among long traders.
2. Midnight (NIGHT)
Midnight (NIGHT) has been receiving a lot of attention from traders lately. Open interest rose from $15 million to over $90 million in just two weeks.
According to liquidation data, traders generally expect the NIGHT price to continue rising. This means investors betting on bullish scenarios could face heavier losses due to the use of more capital and leverage.
Cardanians, a company that manages Cardano stake pools, reported that NIGHT now has a daily trading volume of $6.8 billion. This is more than the combined trading volume of SOL, XRP, and BNB. Despite this increase, NIGHT recorded its first red daily candle today after seven consecutive days of profit. This indicates increasing selling pressure.
Investor Plutus also stated, based on DexHunter data, that 100% of current NIGHT holders who bought on the market are now making a profit. These holders could take profits at any moment.
These signals are a warning that the pressure to take profits on NIGHT may increase this week.
Liquidation heatmaps show that if NIGHT drops to $0.077, cumulative long liquidations could rise to $15 million.
3. Audiera (BEAT)
A recent BeInCrypto report indicated that BEAT has risen by more than 5,000% since its launch in November. The token reached an all-time high of $4.99.
Yet many traders seem dissatisfied and expect further increases. This is also evident from the liquidation data, where potential long liquidations are much higher than short liquidations.
Some traders express concerns about potential price manipulation. These concerns are similar to the 75% price drop of Bitlight (LIGHT). This is supported by the following observations:
BEAT dropped 30% within an hour but then recovered 50% in just one minute. These sudden price fluctuations may be due to manipulation by large wallets.
The official website of Audiera is still not accessible. The official X account of the project has no new updates, except for messages that BEAT is a top performer.
Market data platform CoinAnk has warned of the risk of liquidations.
In a negative funding rate environment, the costs of holding short positions are low, but due to the extreme volatility of $BEAT, rapid consecutive liquidations can occur—affecting both long and short positions,” reported CoinAnk.
If BEAT drops below $3, total long liquidations could rise to $10 million.
