Crypto liquidations hit $1.66B in 24 hours, led by $1.42B in long wipeouts

ChainCatcher reported, citing Coinglass data, that total crypto market liquidations reached $1.662 billion over the past 24 hours. Long positions accounted for $1.419 billion, while short positions totaled $244 million. Bitcoin saw $632 million in long liquidations and $118 million in short liquidations. Ethereum recorded $329 million in liquidated longs and $53.7959 million in liquidated shorts. Globally, 277,816 traders were liquidated during the period. The largest single liquidation was a $16.1984 million BTCUSD position on Hyperliquid.