Cryptocurrency Market Records $279 Million Liquidated in 24 Hours

A major liquidation event occurred in the cryptocurrency market over the past 24 hours, with total closed positions reaching up to $279 million. According to data from Coinglass and ChainCatcher, long positions dominated this liquidation wave, accounting for $170 million, while short positions only saw $109 million liquidated.

Distribution of Liquidations Between Long and Short Positions

The disparity between long and short liquidations indicates strong selling pressure in the market. Long positions account for approximately 156% of short positions, reflecting investor expectations that have been liquidated amid market correction. This scale highlights significant volatility in the multi-million dollar liquidation flows.

Bitcoin and Ethereum Lead the Liquidation

In the detailed liquidation breakdown, Bitcoin saw a total of $65.24 million liquidated, including $46.77 million from long positions and $18.47 million from short positions. Ethereum followed with a total of $89.12 million liquidated, consisting of $63.43 million from longs and $25.69 million from shorts.

This situation shows that Ethereum experienced a larger liquidation pressure relative to Bitcoin, indicating that investors are adjusting their portfolios across both leading cryptocurrencies in the crypto market.