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I just saw the crypto liquidation data today, and it's quite brutal. According to CoinGlass, total liquidations reached $826 million in a single day, and the most notable are the short positions that were hit the hardest—$661 million of the total liquidations.
BTC and ETH are the main focus, with BTC liquidations at $375 million and ETH at $184 million. This means the majority of losses are concentrated in these two major assets. But the most shocking part is that there was a position on Hyperliquid liquidated with a value of $15.7 million in a single BTC-USD pair transaction.
In total, more than 194,000 traders were liquidated within 24 hours. This shows how volatile the market is right now, especially for those trading with high leverage. The dominance of short positions being liquidated could indicate a sudden bounce or a short squeeze happening.