The crypto market went through a tumultuous period with major liquidations reaching $483.61 million. This substantial amount was driven by a sharp decline in digital asset prices, intensifying the pressure on traders.
Data sourced from CoinGlass highlighted that long positions were severely affected, accounting for $342.34 million of the total liquidations. In comparison, short positions amounted to $141.34 million.
Ethereum emerged as a significant casualty, witnessing $86.43 million in liquidations, leading the altcoin category in terms of sell-offs.