Crypto Market Sees $488M in Liquidations in 24 Hours, Bearish Pressure on Short Sellers

According to Coinglass data cited by ChainCatcher, the crypto market recorded $488 million in total liquidations over the past 24 hours, with long positions accounting for $116 million and short positions for $372 million.

Bitcoin saw $20.7 million in long liquidations and $89.8 million in short liquidations, while Ethereum experienced $35.1 million in long liquidations and $140 million in short liquidations. A single liquidation event on Binance's ETHUSDT pair reached $12.03 million in value. Across the network, 107,178 traders were liquidated during the period.