Looking at the recent one-day contract market, the liquidation data is quite crazy. According to Coinglass statistics, the total liquidation amount across the entire network in the past 24 hours reached $204 million, with longs liquidated at $127 million and shorts at $76.77 million.

Breaking it down to mainstream coins—Bitcoin saw long liquidations of $36.91 million and short liquidations of $25.55 million, indicating longs took a bigger hit. Ethereum's situation is similar, with long liquidations of $28.65 million and short liquidations of $17.10 million.

The most heartbreaking part is that a total of 80,749 people worldwide were liquidated and cleared out in these 24 hours. The largest single liquidation occurred on Hyperliquid exchange's BTC-USD contract, valued at $2.5192 million.

After this wave of operations, it seems neither bullish nor bearish traders managed to make any money.