The past 24 hours in the cryptocurrency market saw significant liquidations affecting both long and short positions. Long positions amounting to $56.64 million were liquidated, while shorts totaled $97.10 million. This resulted in a combined liquidation figure of $153.73 million across 52,279 traders.

One notable event was the largest single liquidation order on OKX, where a substantial $2.82 million was liquidated for the ETH-USDT-SWAP pair. This highlights the volatility and risk involved in leveraged trading within the crypto space.

These liquidations serve as a reminder of the rapid movements and high stakes inherent in cryptocurrency markets. Traders face substantial risks when market conditions shift suddenly, leading to significant losses across the board.

Understanding these dynamics is crucial for anyone involved in crypto trading, emphasizing the importance of risk management and staying informed about market conditions. Such insights help traders navigate volatility more effectively and make informed decisions in their trading strategies.

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