The cryptocurrency market experienced significant shifts in the last 24 hours, with an unusually high number of liquidations occurring. In a recent market shakeup, 156,601 traders faced liquidation totaling $573.19 million due to price movements contrary to forecasts. This volatility saw Bitcoin experience both a drop to $74,589 and a subsequent surge of over 8%, resulting in major losses for short-sellers like those on the OKX exchange, where the largest liquidation amounted to $4.47 million. Short positions lost an estimated $137 million while long positions faced losses worth $87.77 million. Ethereum and XRP also experienced significant liquidations of $161.71 million and $26.75 million respectively.