In terms of derivatives trading, Coinglass data shows that the total liquidation of the entire network in the past 24 hours was US$1.719 billion, of which BTC liquidated US$568 million and ETH liquidated US$243 million. It is worth mentioning that unlike the relatively balanced distribution of long and short liquidations during the short-term correction on November 26, the amount of long liquidations this time was as high as US$1.551 billion, accounting for more than 90%, which shows that the bulls have suffered a heavy blow in this morning's correction.