24-Hour Crypto Liquidations Surge, Dominated by Long Positions The cryptocurrency market experienced significant liquidations in the past 24 hours, particularly in perpetual futures contracts. Bitcoin (BTC), Ethereum (ETH), and XRP saw the highest liquidation volumes, with long positions being disproportionately affected. BTC Liquidations: Longs Bear the Brunt Bitcoin futures liquidations reached $378.18 million, with a substantial 60.36% attributed to long positions. This indicates a significant downturn impacting traders betting on Bitcoin's price increase. ETH Liquidations: Similar Trend for Ethereum Ethereum followed a similar pattern, with $256.45 million in liquidations. Long positions accounted for 64.35% of this volume, highlighting widespread losses among ETH bulls. XRP Liquidations: Longs Heavily Impacted XRP futures saw $64.53 million in liquidations. A large 68.37% of these were long positions, demonstrating a considerable impact on traders expecting XRP to rise. These liquidation events underscore the volatility inherent in cryptocurrency markets, particularly within leveraged perpetual futures trading. Traders should exercise caution and manage risk effectively to mitigate potential losses. ```

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