Data compiled by Woofun AI shows that total crypto liquidations reached $280 million over the past 24 hours, driven predominantly by short positions which accounted for $192 million of the total. Long positions faced $88.3302 million in forced closures, indicating a market environment where bearish leverage was disproportionately unwound.

Bitcoin and Ethereum experienced substantial volatility, with Bitcoin shorts liquidated at $66.9316 million versus $11.6586 million for longs. Ethereum saw $38.0311 million in short liquidations compared to $27.9704 million for longs. Globally, 97,725 traders were liquidated, with the largest single event occurring on Binance involving an ETHUSDT position worth $11.8764 million.