According to Odaily, the cryptocurrency market has experienced a significant liquidation event in the past 24 hours. The total liquidation across the network amounted to $231 million. This figure includes both long and short positions that were liquidated.
The data reveals that long positions accounted for the majority of the liquidations, with a total of $161 million. On the other hand, short positions that were liquidated amounted to approximately $70.29 million. This indicates a substantial volatility in the cryptocurrency market, affecting both bullish and bearish traders.
It's important to note that liquidation events can have a significant impact on the overall market sentiment and can lead to drastic price movements. Traders and investors are advised to exercise caution and manage their risk appropriately in such volatile market conditions.