Over the past 24 hours, the cryptocurrency market has experienced significant liquidations, with estimates varying across sources:

Coinglass Data: Approximately $961.76 million in liquidations occurred, affecting 217,460 traders.

ChainCatcher Report: Total liquidations reached $767 million, with $610 million from long positions.

FXEmpire Analysis: Over $870 million in crypto positions were liquidated as Bitcoin dropped below $80,000, and Ethereum hit a one-year low.

These liquidations are primarily attributed to sharp declines in major cryptocurrencies like Bitcoin and Ethereum, leading to forced closures of leveraged positions. The discrepancies in reported figures may result from differences in data collection methodologies and reporting times across various platforms.