Cryptocurrency Market Sees $221 Million in Liquidations

A substantial amount of capital has been liquidated from the cryptocurrency market over the past 24 hours, reaching a total value of $221 million. According to data from Coinglass, this figure was primarily driven by long positions, totaling $155 million in losses, and short positions contributing $65.29 million in liquidations. The significant impact of these events affected 85,525 traders across the global market. Notably, a single liquidation on a centralized exchange (CEX) involving Bitcoin/Tether (BTCUSDT) reached a staggering $2.96 million.