According to CoinGlass data, total cryptocurrency market liquidations over the past 24 hours reached $525 million, with long positions accounting for $387 million and short positions $137 million, indicating a heavy toll on bullish traders.
Breaking down by asset, Bitcoin (BTC) led with $186 million in liquidations, of which $175 million were long positions and only $11.0065 million were shorts. Ethereum (ETH) followed with $102 million liquidated, comprised of $88.3283 million in longs and $13.5024 million in shorts. Solana (SOL) saw $19.0023 million in total liquidations, nearly all from longs at $18.1563 million, with shorts contributing just $846,000.
The skewed long-to-short ratio suggests that a market downturn forced massive long position closures, particularly concentrated in BTC and SOL. This wave of liquidations underscores the intense short-term volatility in the crypto market, reminding traders of the importance of risk management.