Crypto market sees about $681 million in liquidations over 24 hours, with longs accounting for 88%.

Crypto markets saw roughly $681 million in liquidations over the past 24 hours, with long positions accounting for about $599 million, or 88% of the total, according to Coinglass data cited by BeInCrypto. Bitcoin positions made up approximately $325 million of the liquidations, 95.3% of which were longs, while Ethereum positions totaled about $106 million, 89.7% longs. A total of 112,947 traders were liquidated, and the largest single liquidation was a $31.09 million Bitcoin long on Hyperliquid. The long-heavy skew indicates leveraged bullish positioning was caught offside during the latest price pullback. Traders will be watching whether funding rates reset and open interest cools further, or whether dip buyers rebuild leverage and set up another cascade.