On-chain data platform Coinglass's latest statistics show that the market liquidation volume exceeded $270 million in the past day. Among them, long positions were liquidated for $134 million, and short positions were liquidated for $135 million, with both sides evenly matched.

Looking at mainstream cryptocurrencies, Bitcoin faced the greatest pressure—long positions were wiped out for $55.69 million, and short positions were also liquidated for $51.71 million, illustrating the extreme volatility. Ethereum's situation is similar, with long liquidations totaling $33.54 million and short liquidations totaling $40.39 million.

How dangerous is this market movement? The data speaks for itself. In just 24 hours, over 107,479 people experienced liquidations, with the largest single liquidation order occurring on a certain DEX platform, involving the BTC-USD trading pair, with a liquidation amount of up to $4.43 million.

What does this indicate? The current market sentiment is highly volatile, and leveraged traders need to manage risk carefully. Both long and short traders have paid the price in this wave of market turbulence.