The cryptocurrency market just experienced a 'thermal shock' as over 200 million USD in positions were liquidated within 24 hours, according to data from Coinglass. This sweep mainly came from long orders (buy positions), accounting for up to 130 million USD, while short positions (selling) were also not spared, with over 70 million USD liquidated. The large volatility indicates that investor sentiment is becoming extremely sensitive to short-term price fluctuations.
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