The liquidation long/short ratio splits forced-closure volume by side. 80% longs means four dollars of longs were liquidated for every dollar of shorts. On this site every digest, coin page and exchange page reports it, because it answers the first question about any flush: who was in the way?
01How to read it
A one-sided ratio, above roughly 80% or below 20%, marks a cascade against a crowded side. High long share means leveraged longs were flushed on a falling market. High short share means shorts were squeezed on a rising one. Either way, positioning was crowded before the move.
A balanced split, between roughly 40 and 60%, is the normal background texture of choppy markets. Both sides are getting picked off by ordinary volatility, and there is no flush in progress.
Read direction with price. A 90% long day on a flat or rising market can mean liquidations of late longs in a retest rather than a crash, while the same ratio on a falling market is the cascade signature. Price context turns the ratio into a story.