Data compiled by Woofun AI shows that total network liquidations reached $423 million over the past 24 hours, reflecting a period of intense market volatility. The liquidation volume was split between directional bets, with long positions accounting for $244 million and short positions representing $179 million of the total wiped-out value.

This near-even distribution of losses indicates that traders on both sides of the market were caught off guard by rapid price swings. The simultaneous liquidation of longs and shorts suggests a highly erratic trading environment, where stop-loss triggers and margin calls cascaded across exchanges, forcing deleveraging regardless of initial market sentiment.