▶️According to data from CoinGlass, in the past 24 hours, the total amount of derivatives liquidated in the past 24 hours was $1.72 billion, the highest number in 2024.

▶️In which, the long side dominated with 90% of the burned orders. Another fact that can be seen is that the rate of altcoin liquidation is more than double that of ETH or 3 times that of BTC, something that has not happened for a long time, showing that the market has been overly optimistic about the growth prospects of altcoins in the past.

▶️The sell-off also caused some altcoins to collapse to prices even lower than before the surge in early November.