According to PANews, recent data from Coinglass reveals that the cryptocurrency market experienced significant liquidations amounting to $354 million over the past 24 hours. This includes $233 million in long positions and $121 million in short positions being liquidated.
Bitcoin (BTC) and Ethereum (ETH) were among the most affected cryptocurrencies, with BTC liquidations totaling approximately $55.39 million and ETH liquidations reaching around $55.82 million. These figures highlight the volatility and rapid changes in the cryptocurrency market, which can lead to substantial financial impacts for traders.
The data underscores the risks associated with leveraged trading in the crypto space, where sudden market movements can trigger large-scale liquidations. Traders are advised to exercise caution and consider the potential for significant losses when engaging in such high-risk trading activities.
