The cryptocurrency market experienced significant liquidations totaling $271 million over the past 24 hours, according to Coinglass data. Long positions bore the brunt, with $228.2 million liquidated, while short positions accounted for $42.8 million. Bitcoin long positions saw $120.2 million in liquidations, compared to $22.1 million for shorts. Ethereum long positions faced $45.7 million in liquidations, with shorts at $12.2 million.