The network has experienced $50.65 million in liquidations over the past hour, primarily affecting long positions. This significant figure indicates a major shift in market dynamics. Liquidations occur when traders are forced to close their positions due to insufficient margin, often leading to increased volatility. The majority of the liquidations reported stem from long positions, suggesting that many traders were betting on rising prices. Such a trend can signal a bearish sentiment in the market, as traders may be reacting to adverse price movements.
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