Bullish traders face a bloodbath! Over the past 24 hours, $514 million was liquidated, and 1.53 million people were "harvested."

The crypto market has once again experienced a shocking wave of liquidations. According to Coinglass data, on December 18th, the total liquidation volume in the past 24 hours reached $514 million, with long positions liquidated at $384 million, accounting for more than 70%, and short positions at only $130 million. This significant imbalance indicates that long investors are under greater pressure.

Two Major Coins Under Significant Pressure

Among all liquidations, BTC liquidations amounted to $118 million, while ETH was even more severe, with liquidations reaching $177 million. These two most active markets have become the “hardest hit” areas in this downturn.

Record Single Liquidation

The most astonishing is that on Hyperliquid, the HYPE-USD trading pair experienced the largest single liquidation record of this cycle—$11.08 million vanished in an instant. This figure clearly shows that in high-leverage trading, a sudden market fluctuation can wipe out huge sums of capital.

In just 24 hours, a total of 153,078 people faced liquidation. What does this mean? The market is punishing over-leveraged participants in the most direct way. The dominance of long liquidations also suggests that this recent decline has dealt a fatal blow to aggressive longs.