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The liquidation amount in the past 24 hours is incredible. Looking at CoinGlass data, a total of $138 million has been liquidated, with longs at $99.9 million and shorts at $38.5 million, clearly indicating that longs are taking the hit.
$43.8 million was liquidated in BTC alone, and $25.76 million in ETH. Honestly, that's a pretty significant amount. Over 68000 people are involved, and there was even a single liquidation of $6.5 million on some trading pair on Hyperliquid.
Checking CoinGlass, you can see that people holding long positions are overwhelmingly getting wiped out. If you don't pay attention to market movements, this is what can happen.