Crypto Market Experiences Major Liquidation Event: $104 Million Lost in 12 Hours

Over the past 12 hours, the cryptocurrency market has experienced a substantial amount of liquidation, with a total value of $104 million wiped out. Coinglass data reveals that long positions were responsible for $49.26 million in losses, while short positions accounted for $55.71 million. This represents a significant portion of the overall market activity during this period.