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Just caught some pretty heavy crypto liquidation activity happening across the market. Looks like over $155 million in positions got wiped out in the last 24 hours - mostly people who were long on this dip.
The breakdown shows about $118 million came from long liquidations while shorts took $36 million in losses. Bitcoin got hit the hardest with around $62 million in liquidations, and Ethereum saw about $28.6 million. That's the kind of move that gets people's attention when you're watching the charts.
When you see liquidation numbers spike like this, it usually means traders were overleveraged and the market just shook them out. Happens pretty regularly in crypto, but it's always worth paying attention to where the pain is concentrated. These kinds of liquidation events can signal potential support or resistance levels for the next move.