Crypto exchanges experienced a significant wave of liquidations, totaling $106 million globally in just one hour, according to Coinglass data. The majority of these liquidations, $104 million, were from short positions, while long positions accounted for $2.1 million. Bitcoin (BTC) liquidations were particularly notable, reaching $69.87 million, with Ethereum (ETH) liquidations amounting to $24.53 million.