The digital asset market has recently experienced a large-scale liquidation of contracts. According to on-chain data platforms, the total contract liquidation across the network in the short term has reached $115 million, with $80.92 million in longs being liquidated and $33.70 million in shorts. Long positions have become the main pressure point in this wave of liquidations.

Specifically, Bitcoin liquidations totaled $24.9584 million, Ethereum liquidations totaled $14.4803 million, and these two major cryptocurrencies together contributed nearly 30% of the total liquidation scale. Industry insiders point out that large-scale contract liquidations often reflect rapid shifts in market sentiment. The concentration of long liquidations indicates that previously bullish investors faced sudden price adjustments in the short term. Such high-frequency liquidation events are also typical signals of increasing market volatility. The scale of long positions being liquidated far exceeds that of shorts, indicating that recent market bullish sentiment has been relatively concentrated, and the sudden downward pressure triggered a chain reaction of liquidations.