Crypto liquidations hit $120 million in 24 hours as both longs and shorts are wiped out

BlockBeats reported on June 13 that, according to data from Coinglass, total liquidations across the crypto market reached $120 million over the past 24 hours. The figures show liquidations on both sides of the market, with long positions accounting for $71.35 million and short positions accounting for $48.36 million.

In derivatives trading, liquidation generally refers to the forced closing of a position when margin is insufficient. The latest Coinglass data indicates that both bullish and bearish positions were cleared during the 24-hour period, with long liquidations exceeding short liquidations.