Over $40.34 million in cryptocurrency market liquidations were recorded in the past hour, according to Coinglass data. The majority of these liquidations, amounting to $38.68 million, were from long positions, while shorts accounted for $1.66 million. Bitcoin and Ethereum were the most affected, with $17.61 million and $17.52 million in liquidations, respectively. This surge in liquidations highlights the ongoing volatility in the crypto markets, as rapid price movements continue to trigger significant position closures.