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Just saw the liquidation data from the past 24 hours, and the market movements are still quite intense. According to on-chain data, the total liquidation amount in the cryptocurrency market reached $383 million, with short positions being hit particularly hard at $256 million, while long positions only totaled $127 million.
Bitcoin and Ethereum also didn't escape, with BTC liquidations at $194 million and ETH approaching $100 million. The most astonishing thing is that nearly 87k people were liquidated in this wave of market activity, including a single liquidation order directly hitting Hyperliquid's BTC-USD, with a size of $13.33 million. This volume is considered quite large in the derivatives market.
It seems that this wave mainly crushed the shorts, while the longs are fighting back. Such large-scale liquidations usually indicate increased market volatility, and the risk for leveraged traders is also soaring.