The cryptocurrency markets experienced significant volatility, resulting in $27.374 million in liquidations over the past hour, according to Coinglass data. Long positions were heavily impacted, accounting for $25.5996 million of the total liquidations, while short positions saw $1.7744 million liquidated. Ethereum (ETH) and Bitcoin (BTC) were notably affected, with ETH liquidations totaling $10.62 million and BTC liquidations reaching $5.68 million.