Crypto Derivatives Wipe Out $48.7 Million in Positions Over 24 Hours

Crypto derivatives saw $48.72 million in liquidations over 24 hours, with longs at $27.83 million versus $20.89 million for shorts. Bitcoin and Ethereum shorts led per-coin closures, indicating bearish positioning. The liquidation wave highlights volatility in the market as traders faced forced exits amid price swings.