Crypto Market Sees $200 Million in Liquidations Over 24 Hours

The cryptocurrency market just took a hefty hit, with a staggering $200 million in contracts getting liquidated over the past 24 hours. This shake-up, according to data from Coinglass reported by PANews, saw investors on both sides of the trade feeling the pinch.

A substantial chunk of that — some $130 million — came from long positions, meaning folks who bet on prices going up got wiped out. But it wasn't just the bulls facing a reckoning; short positions, those speculating on a price drop, also saw significant liquidations, totaling a cool $70.07 million. This shows a pretty volatile spell across the board in the digital asset space.