According to BlockBeats, data from Coinglass on July 7th reveals a total of $172 million in liquidations across the network in the past 24 hours. The liquidations included $26.88 million in long positions and $145 million in short positions. This significant amount of liquidation indicates a volatile market condition. The data does not provide specific reasons for the liquidations, but it is generally a result of traders being unable to maintain the minimum account balance required by their brokers. The high volume of short position liquidations suggests that many traders expected the market to decline. However, the market's actual movement may have been contrary to their expectations, leading to these liquidations. It's important for traders to be aware of market conditions and manage their risk appropriately to avoid such situations.
