Crypto liquidations totaled $657.9 million over the past 24 hours, as the broader market slid. 

Ethereum (ETH) accounted for the bulk of total liquidations, with traders betting on further upside taking the biggest losses in the latest wipeout.

Ethereum, Bitcoin Longs Drive Monday’s Crypto Liquidation Wave

According to data from Coinglass, roughly 106,371 accounts were liquidated over the past day. Long positions absorbed roughly 89% of the damage, with $584.38 million wiped out.

Meanwhile, short bets lost just $73.52 million, showing a one-sided flush of leveraged bulls.

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Ethereum took the heaviest hit…