According to Foresight News, data from Coinglass reveals that the cryptocurrency market has experienced substantial liquidations over the past 24 hours, amounting to $1.082 billion. This includes $797 million in long positions and $285 million in short positions.
Bitcoin accounted for a significant portion of these liquidations, with $571 million in positions being liquidated. Ethereum also saw notable liquidations, totaling $107 million. These figures highlight the volatility and rapid changes in the cryptocurrency market, impacting both long and short traders significantly.
The data underscores the risks associated with leveraged trading in the cryptocurrency space, where sudden market movements can lead to substantial financial losses. Traders are advised to exercise caution and consider the potential for rapid market shifts when engaging in leveraged positions.
