Market hit with $343M in liquidations as bulls and bears both take heavy losses

According to Coinglass data, cryptocurrency markets experienced significant liquidation activity over the past 24 hours, with a combined $343M in positions wiped out across traders. The liquidation showed a near-perfect split: long positions saw $172M liquidated, while short positions faced $171M in losses.

The relatively balanced liquidation between the two sides suggests that the market's sharp price movement caught both bullish and bearish traders off guard, triggering automatic position closures on leveraged trades. This kind of symmetric liquidation pattern often indicates heightened volatility without a clear directional bias favoring one side of the market.

The $343M figure underscores the intensity of leverage activity in crypto derivatives markets, where traders betting on price movements in either direction can face rapid forced exits when volatility spikes exceed their stop-loss levels.