In the last 24 hours, $289.80M in positions were liquidated.
🔥 Who got hit the most?
. Long liquidations: $210.97M
. Short liquidations: $78.83M
👉 This means the market moved down aggressively, wiping out overleveraged buyers.
🟢 Why BTC & ETH are big on the heatmap
. BTC: $98.21M liquidated
. ETH: $94.00M liquidated
These two always lead liquidation events because they carry the largest open interest and leverage exposure.
🧠 What This Means
3. Long squeeze happened – Too many traders were betting on upside.
Market forced liquidations pushed price lower.
After heavy long wipes, the market often:
Either stabilizes and bounces (less sell pressure left)
Or continues dumping if spot selling joins in