Cryptocurrency Market Experiences $580 Million Liquidation in 24 Hours

According to PANews, the cryptocurrency market witnessed significant liquidations over the past 24 hours, amounting to a total of $580 million. Data from Coinglass reveals that long positions accounted for $210 million of the liquidations, while short positions made up $370 million. Bitcoin (BTC) experienced a substantial portion of these liquidations, with a total of $288 million being liquidated. Meanwhile, Ethereum (ETH) saw liquidations amounting to $57.3 million. This data highlights the volatility and rapid changes in the cryptocurrency market, impacting both long and short positions significantly.