Long positions worth $796 million were liquidated, far more than the $136 million in short positions. But this only shows that leveraged longs were forcibly closed over the past 24 hours; it cannot be treated directly as a reversal buy signal. Total ETH liquidations amounted to $281 million, higher than BTC’s $212 million. The largest single liquidation occurred in BTCUSDT, valued at $12.0347 million. The former is a total; the latter is a single position, and they are not interchangeable: a higher ETH total does not mean a single whale was liquidated, and a large BTC liquidation does not mean that price level became support. Liquidations are forced closures and realized losses, not net inflows of new capital, and they do not reveal the entry price, margin, or liquidation price. If the dominance of long liquidations is taken as a signal to buy the dip, there would need to be evidence such as a subsequent decline in liquidation size and prices no longer extending their losses in the same direction. The material provides no such data, so it is impossible to determine whether the deleveraging is over. The $12.0347 million single liquidation confirms only that one BTC contract position was forcibly closed; it does not reveal the chain of events that triggered it. For traders, these figures are better suited to gauging how badly leveraged longs were hurt over the past 24 hours than to predicting the direction of the next candle.