According to PANews, data from Coinglass reveals that the cryptocurrency market has experienced a total contract liquidation of $205 million in the past 12 hours. The majority of this liquidation, amounting to $169 million, was from long positions, while short positions accounted for approximately $35.73 million.

Bitcoin (BTC) and Ethereum (ETH), two of the most prominent cryptocurrencies, were significantly impacted. The total liquidation for Bitcoin was approximately $63.55 million, while Ethereum saw a total liquidation of around $53.51 million. This data provides a snapshot of the volatility and risk associated with the cryptocurrency market.