Has the market cooled down? The Long side has to bear the brunt, and over 130 million dollars have been liquidated in 24 hours!

After days of strong fluctuations, the cryptocurrency market has shown signs of stagnation and adjustment today, causing significant losses for the Long side.

🔷 On-chain data recorded the total liquidation value across the market in the past 24 hours reached 130.54 Million USD.

Selling pressure has caused Long positions to incur most of the losses with 91.59 Million USD being liquidated, nearly 2.5 times compared to the Short side.

This shake-up has affected 101,821 traders globally.

🔶 Red dominates major assets:

$BTC : Leading the liquidation list with 31.00 Million USD evaporated.

$ETH : Continuing this week's gloomy streak, it has decreased by more than 10% with 10.41 Million USD in derivative orders being swept away.

Altcoin: The Others group also recorded a high liquidation level of 19.75 Million USD, indicating that speculative funds are withdrawing.

The fact that the liquidation ratio heavily favors the Long side indicates that the market is in a short-term adjustment phase to shake off leverage before determining a new trend for next week.

This article is for reference only and is not investment advice. Please read and consider carefully before making any decisions.