The cryptocurrency market experienced significant liquidations totaling $55.1 million in just one hour, with long positions bearing the brunt at $53.3 million, according to Coinglass data. Short positions accounted for $1.7 million of the liquidations. Over the past 24 hours, 235,924 traders were liquidated globally, with the total liquidation amount reaching $660 million. The largest single liquidation was on Hyperliquid's ETH-USD pair, amounting to $15.5 million.