Over the past four hours, the network has experienced a total liquidation amounting to $26,174,000. Most of the positions liquidated were long positions. Liquidations typically occur when traders are unable to meet margin requirements, leading to automatic closure of their positions. This significant liquidation suggests a substantial shift in market sentiment, prompting many traders to exit their long positions. The overall impact on the market remains to be seen as traders reassess their strategies in light of these developments.
