The cryptocurrency market faced a wave of liquidations in the past 24 hours, with total losses exceeding $220 million, according to the latest data from Coinglass. The figures highlight intense volatility across major digital assets.
Out of the total liquidated positions, short trades were hit the hardest, with around $118 million wiped out. Meanwhile, long positions weren’t spared either, facing liquidations totaling approximately $102 million.
Bitcoin $BTC
alone contributed to $56 million of the liquidations, reflecting strong price swings and aggressive market moves. Ethereum $ETH
saw even higher liquidations, with positions worth over $79 million closed during this period.
This significant level of liquidation activity suggests that traders on both sides of the market were caught off-guard, likely due to rapid price fluctuations and high leverage usage.