Data compiled by Woofun AI shows that total liquidations across the network surged to $137 million within the past 24 hours. Short positions bore the brunt of the volatility, accounting for $89.4575 million of the total, while long positions were liquidated at $47.1821 million.

Bitcoin derivatives saw significant activity, with short positions liquidated at $31.5156 million compared to $6.5423 million for longs. Ethereum followed a similar trend, recording $18.9269 million in short liquidations against $8.5316 million for longs. Globally, 67,613 traders faced liquidation, highlighted by a single largest event on Bybit involving a BTCUSD position worth $2.4157 million.