In recent developments within the cryptocurrency market, shocking data from Coinglass has illustrated a staggering total of $165 million in liquidations within a mere 24-hour span. Delving deeper into these figures, we find that long positions have borne the brunt of these liquidations, accounting for a hefty $126 million.
Meanwhile, short positions also faced significant liquidations, totaling $38.89 million. Among the most affected cryptocurrencies, Bitcoin (BTC) emerged with liquidations totaling $36.03 million, while Ethereum (ETH) was not far behind, experiencing liquidations amounting to $39.12 million. These liquidations highlight the intense volatility characteristic of the cryptocurrency landscape, as investors navigate through a challenging market environment.
This influx of liquidations causes concern among traders, showcasing the contagious nature of market fluctuations and the rapid shifts in investor sentiment..