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Look at what's happening in the market right now. According to data I checked on CoinGlass, liquidations in the last 24 hours hit $826 million. That's quite a lot.
What draws attention is that most of these liquidations came from short positions, about $661 million, while longs totaled $166 million. Bitcoin led with $375 million liquidated, followed by ETH with $184 million. Nearly 200,000 traders were liquidated during this period.
The most interesting thing is that the largest individual liquidation occurred in the BTC-USD pair on a derivatives platform, reaching $15.7 million at once. These CoinGlass numbers show that the market is quite volatile indeed. When I see these liquidation volumes, I keep observing how the dynamic between buyers and sellers is moving. It seems that those betting against the market took a bigger hit this time.