The crypto market never sleeps, but last night? It had a wild ride. Over the past 12 hours, we saw a jaw-dropping $87.75 million in liquidations, according to data from Coinglass. Bulls took the heavier hit, with $55.78 million in long positions wiped out, while shorts weren’t spared either, losing $31.97 million.

Bitcoin (BTC) seems to be in a bit of a mood, hovering around $26,500 and down just under 2% over the past day. Ethereum (ETH) is trying to keep it together, holding steady at $1,670. But altcoins? They’ve been feeling the heat, with some major players like Solana (SOL) and Cardano (ADA) showing signs of strain as market sentiment stays cautious.

What’s behind this? It seems traders were caught off guard by a sudden market dip after weeks of relatively low volatility. Add a touch of macroeconomic uncertainty, and voila—a perfect recipe for those liquidation fireworks. Leveraged traders, especially, are getting a stark reminder of how unforgiving crypto can be.

The mood right now? Mixed. Some see this as a shakeout before the next leg up, while others are bracing for more downside. Fear and greed indexes suggest the market is leaning toward caution, and trading volumes are slightly lower than usual.

So, what’s the takeaway? Keep your wits about you. If you’re trading, be strategic—stop-losses are your best friend. And for the hodlers? Stay the course. The market has been through worse and always bounces back.

As they say in crypto: volatility is the price you pay for the moon.

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