Data compiled by Woofun AI shows that total network liquidations surged to $559 million within the past 24 hours, with long positions bearing the brunt of the market move at $493 million compared to $66.8677 million in shorts. Bitcoin longs accounted for $138 million of this volume, while Bitcoin shorts saw $15.7615 million in liquidations.

Concurrently, Ethereum longs were liquidated at $131 million, against $16.7986 million in Ethereum shorts.

The volatility impacted 123,472 traders globally during this period. The most significant single event occurred on Hyperliquid, where an ETH-USD position worth $14.1486 million was liquidated, highlighting the intense pressure on leveraged long exposure across major assets.