Data compiled by Woofun AI shows that total network liquidations surged to $616 million over the past 24 hours, driven predominantly by long position closures totaling $551 million against $64.485 million in short liquidations. Bitcoin longs accounted for $157 million of the wipeout, while Ethereum longs contributed $140 million, overshadowing their respective short-side losses of $13.1063 million and $16.7257 million.

Concurrently, global liquidation events affected 132,174 traders, with the most significant single occurrence recorded on Hyperliquid. An ETH-USD position valued at $14.1486 million was liquidated, highlighting the intense volatility impacting major assets during this period.