Over $169 Million Liquidated in Crypto Market Carnage: Longs Crushed as Bears Take a Hit Too!

The last 24 hours have been brutal for crypto traders, with over $169 million in positions liquidated across the market! Data from Coinglass, as reported by BlockBeats, paints a stark picture of volatility, showing a significant shake-up for both bullish and bearish bets.

Long positions bore the brunt of the storm, with a staggering $123 million wiped out. This indicates a sharp downturn that caught many optimistic traders off guard, forcing automatic sell-offs as prices plummeted.

But it wasn't just the bulls feeling the pain. Even short positions, betting on a price decline, saw substantial liquidations totaling $45.93 million. This suggests rapid price swings that also caught some bearish traders on the wrong side of their leveraged bets.

This massive wave of liquidations underscores the inherent risks and unpredictable nature of the cryptocurrency market. Are you ready for what comes next?