In the past 24 hours, total contract liquidations across the network reached 69153500 USD, with long positions being the main liquidated side
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AT A GLANCE
CoinGlass data shows that in the past 24 hours, total contract liquidations across the network reached 69153500 USD, with long liquidation amounts exceeding short liquidations.
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In the past 24 hours, total contract liquidations across the entire network amounted to 69153500 USD, with long positions dominating the liquidations
PANews November 8 news, CoinGlass data shows that in the past 24 hours, cryptocurrency market contract liquidations across the entire network amounted to 69153500 USD, of which long position liquidations were 45036600 USD and short position liquidations were 24116800 USD. BTC total liquidation amount was 6558700 USD, ETH total liquidation amount was 6903600 USD. The largest single liquidation order occurred in HYPERLIQUID-ZEC-USD, valued at 439500 USD.
PANews, citing CoinGlass data, reported that in the past 24 hours, total contract liquidations across the cryptocurrency market reached 69153500 USD.
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Long position liquidations were 45036600 USD, and short position liquidations were 24116800 USD.
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The total BTC liquidation amount was 6558700 USD, and the total ETH liquidation amount was 6903600 USD.
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The largest single liquidation occurred on HYPERLIQUID-ZEC-USD, valued at 439500 USD.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
"Liquidation" refers to a leveraged contract position being forcibly closed when losses reach the platform's conditions. Here, the long liquidation amount is higher than the short liquidation amount, indicating that a greater value of bullish positions was liquidated during the reporting period; however, this data alone cannot determine the subsequent price direction.
Why it matters to readers
Concentrated liquidations reflect that leveraged traders are under significant liquidation pressure and may also be accompanied by short-term market volatility. Data on BTC, ETH, and the largest single liquidation can help observe which assets and trading pairs the liquidations are concentrated in.
Beginners should note that contracts use leverage, and even small adverse price movements can cause forced liquidation; liquidation amounts do not equal spot capital flows and are not a standalone basis for judging upward or downward trends.
Risks and unknowns
The original data was cited by PANews from CoinGlass, with no independent source provided for cross-verification.
The original text only states "November 8" without specifying the year.
The original text does not provide data on prices, open interest, funding rates, etc., making it impossible to judge the subsequent market direction.
The original text does not specify the statistical methodology, the scope of platforms covered, or the data update time.
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Liquidation
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