Over $55 million in liquidations swept across crypto markets in recent trading, with long positions absorbing the brunt of the impact. According to Coinglass data, the network experienced $55.71 million in total liquidations, of which bullish bets accounted for $55.03 million—representing nearly the entire liquidation volume. Short positions, by contrast, saw only $670,000 wiped out, underscoring the sharp downturn's disproportionate effect on traders holding bullish positions. The data highlights a significant liquidation event concentrated among long-side traders as market volatility swept through the sector.