The recent crypto market has seen a major contract liquidation event, with bearish forces severely impacted. According to CoinAnk data, the total contract liquidation in the past 24 hours has exceeded $237 million, with short positions accounting for $152 million, far surpassing the $84.76 million in long position liquidations.

In terms of cryptocurrencies, BTC liquidations reached $95.37 million, followed by ETH with $57.43 million. This wave of liquidations indicates that short-sellers have faced greater pressure in the recent market, while longs have been relatively better protected. Market volatility is intense, and investors participating in contract trading should exercise caution in risk management and be alert to potential chain reactions.