Cryptocurrency Market Experiences $253 Million Liquidation in Four Hours

According to PANews, recent data from Coinglass reveals that the cryptocurrency market witnessed a significant liquidation event, totaling $253 million over the past four hours. Long positions accounted for $49.78 million of the liquidations, while short positions saw a much larger impact with $203 million liquidated. Bitcoin (BTC) experienced liquidations amounting to $35.65 million, whereas Ethereum (ETH) faced a substantially higher liquidation volume of $117 million, approximately 3.28 times that of Bitcoin.