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The cryptocurrency derivatives market has witnessed a massive $306 million in liquidations over the past 24 hours as Bitcoin and other major altcoins rallied.
Long and Short Traders Equally Impacted
According to CoinGlass, the liquidations were evenly split, with $154 million in long positions and $151 million in short positions wiped out. This suggests that both bullish and bearish traders were caught off guard by market volatility.
Despite the upward trend, traders using high leverage faced liquidation as sudden pullbacks disrupted bullish positions.

Cardano founder Charles Hoskinson has garnered attention by joining the Trump administration’s forthcoming crypto policy team. Known for his thoughtful and pragmatic approach, Hoskinson’s involvement signals a potential shift toward a more pro-crypto environment under the incoming administration.
Driving Pro-Crypto Policies
Former President Donald Trump has expressed plans to establish a crypto policy team, viewing pro-crypto measures as beneficial for maintaining the US Dollar’s status as a global reserve currency. Hoskinson is not only a member of this team but is reportedly playing a piv