Crypto Market Sees $505M Liquidations in 24 Hours; Long Positions Hit $317M

According to Coinglass data, the cryptocurrency market experienced $505 million in liquidations over the past 24 hours, with long positions accounting for $317 million and short positions $188 million. Bitcoin long liquidations reached $58.79 million and shorts $75.16 million, while Ethereum long liquidations totaled $93.48 million against short liquidations of $45.61 million.

A total of 139,970 traders were liquidated during the period, with the largest single liquidation order worth $5.8895 million on Binance's ETH-USDT pair.