According to Foresight News, data from Coinglass reveals that the cryptocurrency market witnessed substantial liquidations over the past 24 hours, totaling $685 million. This includes $314 million in long positions and $371 million in short positions.
Bitcoin accounted for a significant portion of these liquidations, with $166 million being liquidated. Ethereum also saw notable liquidations, amounting to $94.79 million. These figures highlight the volatility and rapid changes in the cryptocurrency market, impacting both long and short traders significantly.
The data underscores the inherent risks associated with trading in the cryptocurrency market, where sudden price movements can lead to large-scale liquidations. Traders are advised to exercise caution and consider the potential for rapid market shifts when engaging in cryptocurrency trading.
