The crypto market faced a wave of turbulence in the last 24 hours, with Coinglass reporting total liquidations hitting $124 million. Short positions bore the brunt, seeing $80.18 million wiped out, while longs accounted for $43.9989 million in losses.
Breaking it down, Bitcoin longs were liquidated for roughly $1.81 million, whereas Bitcoin shorts got slammed for $16.1 million. Ethereum also felt the heat, with $2.93 million in long liquidations and nearly $6.99 million lost on short positions.
Globally, 106,559 traders were forced out of their positions during this volatile stretch. The single largest blow came on Hyperliquid’s BTC-USD market, where one liquidation alone totaled $3.54 million a stark reminder of the risks in leveraged crypto trading.
