Crypto Markets See $1.76 Billion in Liquidations in 24 Hours, Long Positions Hit Hardest

According to Coinglass data cited by ChainCatcher, over $1.76 billion in positions were liquidated across crypto markets in the past 24 hours, with long liquidations accounting for $1.457 billion and short liquidations for $303 million.

Bitcoin long positions led the liquidations with $452 million wiped out, followed by Ethereum longs at $409 million. Bitcoin shorts saw $112 million in liquidations, while Ethereum shorts experienced $64.74 million in liquidations. A total of 351,700 traders were liquidated during the period.