## Bull Trap: $484 Million Liquidated Across the Web in 24 Hours

According to the latest on-chain data, the market recently experienced a period of intense volatility, with a total liquidation of $484 million across the entire network within 24 hours. Long positions suffered heavy losses, accounting for $336 million of the liquidations, while short positions were liquidated for $148 million.

The significant liquidation of long positions indicates that market enthusiasm for going long is rapidly cooling down. This wave of liquidations reflects the current market's uncertainty—during volatile conditions, aggressive long strategies have paid a heavy price. In comparison, the volume of short liquidations is relatively smaller, suggesting that short investors are generally exercising more cautious risk management.

Fluctuations in total liquidation data often signal a turning point in market sentiment. When long liquidations dominate, it indicates that previously accumulated long positions are being washed out by the market, which could serve as a contrarian indicator for future price movements. For investors, such extreme data should serve as a risk warning—whether chasing highs or closing positions, caution is advised in the current volatile environment.