Crypto Liquidations Total $70.71 Million Over Past 24 Hours

Total liquidations reached $70.71 million over the past 24 hours, with short positions accounting for more losses than long positions.

Short liquidations totaled $38.39 million, while long liquidations reached $32.32 million.

Bitcoin (BTC) recorded $1.11 million in long liquidations and $3.52 million in short liquidations. Ether (ETH) saw $2.94 million in long liquidations and $4.71 million in short liquidations.

Liquidations occur when exchanges automatically close leveraged positions after traders can no longer meet margin requirements. The figures show that short-position losses exceeded long-position losses during the period.