Crypto Market Suffers $244 Million Liquidation in 24 Hours

A significant amount of capital was wiped out from the cryptocurrency market within a single day, according to data from Coinglass. The platform’s reports show that over the past 24 hours, around $244 million in contracts were liquidated. These losses largely stemmed from both long and short positions, with longs accounting for $114 million of the total losses and shorts totaling $130 million. Bitcoin (BTC) suffered a notable $86.29 million in liquidations, while Ethereum (ETH) saw $50.75 million wiped out.