According to on-chain data, the total liquidation volume across the entire network in the past day reached $177 million. Among them, short liquidations accounted for the majority, reaching $132 million, while long liquidations were $44.22 million.

Specifically, for Bitcoin, short liquidations amounted to $42.47 million, far exceeding the $4.50 million in long liquidations. The situation is similar for Ethereum, with short liquidations at $40.92 million compared to $6.20 million in long liquidations. This indicates that recent short-selling investors have been under greater pressure.

A total of 72,467 traders participated in liquidations, with the largest single liquidation occurring on the HTX exchange for the ETH-USDT trading pair, with a liquidation value of $5.05 million. This wave of market activity caused many leveraged traders to suffer losses, and the market volatility was indeed significant.