According to the latest data from Coinglass, the total liquidation amount in the global cryptocurrency futures market reached $805 million in the past day, with 173,757 investors forced to liquidate their positions. Data shows that this wave of liquidations was mainly concentrated on long positions, with long positions liquidated amounting to $667 million, accounting for the vast majority of the total liquidation amount, while short positions were liquidated at $139 million. BTC liquidations reached $434 million, and ETH liquidations also reached $165 million. Market observers believe that the sudden selling pressure is likely the main reason for the rapid market decline and the chain reaction of liquidations. Notably, the largest single liquidation occurred on the Hyperliquid platform's BTC-USD trading pair, worth a staggering $21.3759 million, indicating that even whales were not spared.