Cryptocurrency Market Suffers $54 Million in Liquidations Over Past 24 Hours

According to Coinglass data cited by ChainCatcher news, the cryptocurrency market experienced significant liquidations over the past 24 hours. Total liquidations across the network reached $54.31 million, with long positions accounting for $19.59 million and short positions making up $34.71 million of this total.

Bitcoin traders were particularly affected, with $2.24 million in long liquidations and $4.51 million in short liquidations. Ethereum also saw substantial losses, with $674,100 in long liquidations and $7.03 million in short liquidations.

The largest single liquidation order occurred on an exchange trading the ETHUSDT pair, valued at a significant $3.40 million.