#Crypto crash costs $228 million#

Recently, there have been large-scale liquidation events in the cryptocurrency market. According to statistics, the total liquidation amount across all exchanges in the past 24 hours reached $228 million, of which short positions accounted for $148 million, representing 65% of the total liquidation amount. In the past hour alone, the total liquidation amount across all exchanges reached $12.54 million, with short positions accounting for $11.03 million, representing 88% of the total liquidation amount. This liquidation event was mainly concentrated in BTC contracts. In the past 24 hours, BTC liquidation amounted to $69.53 million, accounting for 30.47% of the total liquidation amount. In the past hour, BTC liquidation amounted to $3.36 million, accounting for 26.86% of the total liquidation amount.The main reason for this liquidation event is the significant divergence in market expectations for the price trend of BTC. Short sellers were overly optimistic, leading to forced liquidation as BTC prices rose. It is important to note that liquidation events are just a part of market fluctuations. Investors should take a rational view of these events and make investment decisions based on their own risk tolerance.