With BTC surging to $31,000, there has been a large-scale liquidation in the cryptocurrency market. CoinGlass data shows that the cryptocurrency market has seen nearly $180 million in liquidations in the past 24 hours, with 75% being short positions. Bitcoin futures contracts contributed the largest portion to the liquidation wave, followed by Ethereum, and then altcoins Chainlink (LINK) and Solana (SOL).
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