In the past 24 hours, the cryptocurrency market, particularly Bitcoin (BTC) and Ethereum (ETH), has seen significant volatility, resulting in a record high of $892.33 million in liquidations. Both long and short positions were hit as the prices moved erratically, causing losses for traders. Bitcoin accounted for the most liquidations at $487.13 million, followed by Ethereum at $85.54 million. Other altcoins, including Ripple (XRP), Dogecoin (DOGE), Solana (SOL), Sui (SUI), Worldcoin (WLD), Optimism (OP), Peanut (PNUT), Cardano (ADA), Litecoin (LTC), and Wifedoge (WIF), also suffered substantial losses. The OKX exchange was particularly affected, facing $380.63 million in liquidations, with Binance and Bybit also experiencing significant impacts. The data shows that short positions were primarily responsible for the losses. This event highlights the risky nature of leveraged trading and emphasizes the importance of risk management for traders.



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