In the past 24 hours, the cryptocurrency market witnessed significant volatility, with $BTC declining by 4.7% and Ethereum plunging 7.7%. This sharp downturn triggered widespread liquidations across the market.

A total of 171,687 traders were liquidated, resulting in a combined value of $542 million. The majority of these liquidations—amounting to $484 million—were in long positions. Notably, the largest single liquidation occurred on Binance, where an $ETH position worth $17.74 million was completely wiped out.