Data compiled by Woofun AI shows that total market liquidations surged to approximately $333 million within the last 24-hour period. The downturn was heavily skewed toward long positions, which incurred losses totaling roughly $235 million, compared to $97.95 million in losses from short positions.

Bitcoin led the asset-specific liquidations with approximately $94.62 million in realized losses, while Ethereum followed with around $45.44 million. This distribution highlights a pronounced bearish sentiment, as leveraged long holders were disproportionately affected by the recent price volatility.