PANews reported on October 1st that according to Coinglass data, the total amount of contract liquidations in the cryptocurrency market over the past 24 hours was $626 million. Of this, long positions saw $218 million in liquidations, while short positions saw $408 million in liquidations, with the amount of short position liquidations nearly doubling that of long positions.

Looking at the major currencies, the total amount of Bitcoin liquidation is about US$167 million (US$146 million for short positions), and the total amount of Ethereum liquidation is about US$158 million (US$104 million for short positions).

Data shows that a total of 167,892 traders were liquidated in the past 24 hours. The largest single liquidation occurred on the Binance exchange platform, involving a BTCUSDT contract order worth $26.19 million.