According to CoinGlass data, 181,077 traders were liquidated in the cryptocurrency market over the past 24 hours, with total liquidations amounting to $1.09 billion. Of this, long positions accounted for $930.54 million, or approximately 85% of the total, while short positions lost $161.85 million. This wave of liquidations was primarily triggered by leveraged buyers, rather than a short squeeze. This marks the highest single-day liquidation in the crypto market since the nearly $3 billion surge on August 20.