Over the past 12 hours, Coinglass data has revealed liquidations totaling over $335 million, predominantly comprised of $300 million in liquidated long positions.
Bitcoin and Ether stand out prominently in the liquidation heatmap, with Bitcoin accounting for over $89 million in liquidated positions and Ether totaling $74 million.
Renowned on-chain analyst Willy Woo, in a recent commentary, indicated a potential correction in Bitcoin's price down to $39,700.
