Total crypto liquidations reached $277 million in the past 24 hours, signaling continued volatility across the market.
Short positions led the wipeout with $185 million liquidated, while long positions accounted for around $92.4 million.
The dominance of short liquidations suggests a short squeeze scenario, where sudden upward price moves forced bearish traders out of positions.
Major assets like Bitcoin and Ethereum remain at the center of these high-leverage movements.
This level of liquidation highlights unstable market conditions, where rapid price swings continue to punish over-leveraged traders.