Recent market fluctuations in the past day have been quite significant. According to on-chain data, the total liquidation amount across the entire network in the past 24 hours reached $62,579,300, of which longs were wiped out by $22,334,200, and shorts lost $40,245,000 — this ratio clearly illustrates the situation.

Specifically, among mainstream cryptocurrencies, Bitcoin long liquidations amounted to $4,553,900, while shorts were only forced out with $1,373,400, indicating significant pressure on longs. On the other hand, Ethereum's situation was reversed: long liquidations reached $1,627,300, but short liquidations hit $3,094,100, dealing a heavy blow to shorts.

Even more astonishing is the number of traders—exactly 50,034 traders were forcibly liquidated in these 24 hours. The most severe single liquidation occurred on a major exchange's BTCUSDT trading pair, with a loss of $2,405,600 in one go. Such a scale of liquidation is enough to make people reflect on the risks of leverage strategies.