According to real-time data from Coinglass, total liquidations across the cryptocurrency market surged to $515 million in the past hour, marking a significant escalation. Long positions accounted for $459 million of the total, while short positions contributed $50.11 million, indicating that bullish bets were largely wiped out amid sharp price movements.
Ethereum (ETH) topped the liquidation chart with $170 million, followed by Bitcoin (BTC) at $143 million. Together, these two assets represented over 60% of the total liquidations in the hour. The remaining $202 million came from various altcoins and other trading pairs.
Liquidation events like this often occur during periods of high volatility, and the heavy long-side liquidation suggests a rapid downward price swing in major cryptocurrencies. Traders are advised to monitor market conditions closely and manage leverage prudently to avoid forced closures.