Global Crypto Market Sees $421 Million in Liquidations Over 24 Hours, Long Positions Lead

Global cryptocurrency markets experienced substantial liquidations totaling $421 million over the past 24 hours, according to data from Coinglass. Long positions bore the brunt, accounting for $239 million of the total, while short positions saw $182 million liquidated. Bitcoin was significantly affected, recording $121 million in long liquidations and $70.25 million in shorts. Ethereum also saw considerable activity, with $50.36 million in long positions and $60.81 million in short positions liquidated. This volatile period impacted 93,887 traders worldwide, highlighted by the largest single liquidation event, valued at $13.33 million, which occurred on Hyperliquid's BTCUSD market.